NQ1!, New April High, Negative Divergence is Intact

A momentum created in the Globex session remained through today's daily session. Even though it was a choppy price action awaiting the FOMC minutes the buyer's dominance was obvious. AAPL was downgraded and some selloff was at the beginning of the session. It was not helpful for NQ to move higher. The afternoon session, especially after the FOMC minutes, attracted the buyers. Once the AAPL became green the NQ started to move up and eventually made a new month high. As seen on the chart the price is moving within the boundaries of the wedge. The negative divergence is there. This is not a sell signal per se. It suggests that the trend is about to change.

What to expect:

- the bull need to sustain the momentum in order to reach all time high.
- loosing today's low would suggests some weakness and may attract the bears.

In one of the recent articles Apple was named as a queen of share buyback. That would explain the relentless upside grind.
For the bears who expect the crash - this market will go down only when the Tech goes down first.

04/10/2019