I think they go full pumptard on the Dow. Why? Because dividends. Companies are still making enough money to pay them and DIA dividend yield is 2.3% which is better than nothing.
That's what happens when you have zero interest rate.
I was trying to figure out why MMM is moving up after missing on earnings .... dividends. If you don't believe me look at PCAR. Pure dividend play, they earned much less than last year but enough to pay dividends.
Thaht and it needs to fill the futures gap. NQ and ES already have.
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Also, look at what it did today, absolutely no weakness, didn;t drop like SPX or NDX
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So much for the overlay, appears to be headed up in straight line, lol.
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Going for the gap as predicted but watch out for a dip here either tomorrow or Thu.
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As with my RTY plot, the time alignment was off, but it looks like a one or two day dip before the next pump. Too close to gap fill to give up now.
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FUtures red because Aussies are tanking 1.5%, but the Dow is barely down, only 20 points, despite CSCO dropping AH on guidance.
All about the dividends, zero interest rates. I imagine the EUros will pump tonight with their negative interest rates, gotta get in before everyone else...
Keep it up