Rising oil prices with a strengthening dollar. The oil trade is not necessarily tied to a falling dollar anymore.
In the above chart, the yellow line ($ADD) is the NYSE Advance - Decline Line. Yesterday we had a rising $TRIN and falling $ADD, which gave us a weak afternoon market.
The Sector Analysis Indicator down trended all day.
After 1055 ET, the momentum of the ES market was negative, and stayed that way all afternoon. All afternoon trades should have been to the short side!
Charles
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