after showing weakness at an old resistance level, unity pulled back on low volume to a buying area, went oversold, formed a hidden bullish divergence, and printed a tight candle.
unity seems more likely to break the level this time with the moving averages showing more contraction and the 200 ma losing relevance as resistance. also, the structure down here...
The Market has a nasty habit of getting ahead of itself a la Alan Greenspan's "irrational exuberance."
www.investopedia.com
Right now, the Market is pricing in lower interest rates based on smidgeons of good data, but the Fed has shown no intention of lowering rates yet.
We've seen this pattern before many times but especially in the past couple years. Good data...
