Thoughts on Divergence with $US30
Watching $US30 today, currently at 54036.93 after a solid push through the day, hitting a high of 54094.65. I'm seeing some significant bearish divergence on a few higher time frame indicators, which makes me question the sustainability of this current leg up, despite the strong intraday performance. It's often tempting to get swept up in the momentum, but I'm leaning towards a potential pullback in the coming sessions if this divergence plays out. On the flip side, $DKNG, up over 8% at 24.03, looks like it's breaking out, but the volume on this push feels a little light to truly confirm a strong move higher for me. I'm always wary of these quick, sharp moves without robust backing. What are others seeing? Am I overthinking the $US30 divergence, or is it a valid signal to be cautious here?
I'm seeing similar on the 4H; the RSI divergence is quite clear. Wondering if we see a retest of the prior resistance around 53900 before any major move.