Isn’t that interesting… The futures broad markets do not agree with the ETF broad markets.
In other words, ESZ23 (S&P 500 futures) has not reached a new high since July, whereas the S&P 500-tracking SPY ETF has.
This is not only true for ESZ23/SPY… It is also true for the NQZ23/QQQ (which tracks the Nasdaq 100) and even the YMZ23/DIA (which tracks the Dow).
This rare occurrence has my attention.
Oh, I know… Futures contracts expire quarterly, and there are plenty of opinions justifying the anomaly. But still…
Who leads who? Does the SPY lead the ESZ23? Does it lead the $SPX? Does that even matter?
For me, I know which market turned my trading around in 2009, thankfully — I sure learned my lessons!
Therefore, I obviously have an opinion, too.
My opinion, based on personal experience, is why I’m sticking with my monthly Hard Right Edge Forecast that has been spot on 11 of the past 12 months. Even banking crises, horrible wars and volatile interest rates did not break it.
Here’s something else that’s interesting: Western Union Co. (NYSE: WU)… After my Bear Snare Indicator directed me to it, I noticed that some smart money has also found it interesting.
My Bear Snare likes it on a daily chart… and on a weekly…
So I’m sticking with it!
I love great tools and thinking outside the box – which I suppose are key elements to my success in trading since my 2009 debacle.
Think and win!
Celeste Lindman
Celeste Lindman Trading
If you haven’t already, join my Telegram channel here for frequent trading insights and market musings!
*This is for informational and educational purposes only. There is an inherent risk in trading, so trade at your own risk.
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