Got stupid overbought and only a small dip today. I'll just wait it out and see if it cycles to oversold. Decided to relocate so I've been busy trying to finish up projects at home. Don't really have time to watch the market.
Oversold on the daily but no traction on a big up day for the market. Quit frankly higher unemployment is bad news, not good news. PCAR typically trades with the news, unlike the rest of the market, lol. But regardless, I'm beginning to think it loses the support next week and has yet another leg down. It's looking like a dead play now.
Overbought on RSI and MFI, I would expect at least a dip tomorrow
Not overbought yet. Looks like Monday will be a pump and dump day. I guess I should have more faith in the market that they'll find a way to pump AAPL on bad earnings, lol. Not feeling very bullish because earnings didn't justify valuation, and my favorite stock, PCAR, is still dropping, lol.
They beat on earnings but barely. Substantial selloff in terms of price, but not volume. Almost hit the bear flag target, and it's oversold on the daily with positive MFI divergence, but I'm gonna wait until tomorrow to see if it hits my target before going long. If it doesn't I'll skip the trade.
Looks to me like the algos are going for the pump and dump. Gap direction will depend on AAPL earnings though so I'll wait to see what happens. MFI probably hits overbought tomorrow either way
Indicators are neutral but MFI rapidly approaching overbought. Quite frankly, I'm bearish on AAPL earnings this afternoon anyways
WTF was that? LOL, Powell pump and dump in just one hour. I know I keep saying Fed days always whipsaw, but that was ridiculous. Futures up a little on QCOM earnings, Europe might bounce overnight, sold of hard this morning, more whipsaw. Anyways, it messed up the indicators, so no trading until things go overbought or oversold. Taking the rest of the week off.
RSI hit oversold at close yesterday, MFI still oversold. Guessing we get a Powell pump this afternoon, but watch out for teh whipsaw
Mentioned this in the NQ post, ES is not oversold yet on RSI or MFI. Recommend waiting until tomorrow to buy the dip, though gap direction may depend on earnings. AMZN tonight, QCOMM tomorrow, AAPL on Thu afternoon.
Oddly, we got the dump with no pump today. MFI is oversold but RSI is not. ES and RTY are not oversold on any indicator. On top of that, my favorite stock, PCAR, took a complete crap on earnings, lol. Gonna wait until tomorrow for a long position. Made a little money with puts today, but I'm just playing with small positions. More room for downside, but...
MFI overbought but RSI is not yet. Guessing pump and dump tomorrow, I'll wait.
MFI already oversold, but RSI is not. Considering ES has an open gap below, I recommend waiting. It's my birthday tomorrow, so not opening any trades today, good luck. BTW, this is why I keep saying earnings are crap shoots, lots of people got burned pumping for META (FB) earnings. MSFT and GOOGL AH today, but both gapped down last time.
I said yesterday that it would get overbought today and go down. Well, here we are. Made a little money with puts like I said I would. Indicators now neutral, META earnings probably dictates gap direction tomorrow. Just gonna stay cash and take potshots at the market with options. I'm guessing MFI will cycle fast like it did a a couple of weeks ago, just...
Looks like it'll hit overbought on MFI and/or RSI tomorrow, have an exit plan.
NQ and RTY filled the gap from yesterday, but ES still has a small open gap. Also, MFI isn't moving much. I see lots of stuff in the red as well. Running errands today, staying out.
MFI went oversold last night, but there's also an open futures gap. Don't have time to watch the market today so I took the easy money and cashed out. I think it'll double bottom before going up because of the open gap. Guessing TSLA tanks on earnings. Gold down big caused Brazil (EWZ) to go red. Barely made any money on those calls.
I guess the daily had to go oversold during market hours, not during Asian hours. Looks like a double bottom Went long again on the drop, but no tech stocks. Brazil held strong on that drop, I've got some EWZ calls for next week. Had sold it once and bought back for a bit cheaper, it didn't drop much when the US market dropped. I rarely trade US index fund...