QUite the whipsaw day. Still think pump and dump tomorrow.
Looks like it was the Euros that did the morning pump. FDAX overbought on RSI now.
Bad inflation news or not, the algos won't be denied, lol. Expecting it to go overbought tomorrow, and reverse for a dip on Thu. I was busy doing other stuff and missed the pump, just staying cash. Would've been a lot easier if it the same thing as last month and gapped down big, this morning was a bit tricky, wasn;t sure what it was doing.
MFI went oversold before market open, but RSI hasn't. MFI is a poor indicator for gap direction, gap will be dictated by CPI numbers premarket. Then we have PPI coming up on Thu. ES is still in the channel though...
As I posted last night, I'm bullish long term, but my short term RSI indicator appears to have gone overbought and now cycling down. The way to play this is to wait until RSI or MFI hit oversold and buy the dip. I don't think I'm buying until Thu morning, CPI and PPI coming out Tue and Thu. BTFD, lol. Threw some beer money at some puts, just goofing around...
Never in the history of the Fed has the chairman been stupid enough to talk about rate cuts when the stock market is at an all time high. www.cnbc.com Powell is an unbelievable moron who's going to cause rebound inflation by pumping the market. I'm no longer bearish because I realized today that all of the central bank chairs are morons. (The ECB meeting was...
Well ECB meeting happened, market green. Looks like it can go further tomorrow on Ponzi Friday. CPI numbers Tuesday, will look at buying puts on Monday.
Indicators are neutral, the big news tomorrow is ECB meeting premarket. Bunch of retailers reporting earnings this afternoon as well, but ECB will have a bigger impact. Inflation numbers Tuesday, I think I'd rather bet on that than the ECB. I'm still bearish, but ou have to have good timing to make any money shorting anything.
I guess I should've known they'd pump futures overnight because NQ hit oversold yesterday. Be careful holding anything overnight though, ECB meeting tomorrow premarket. Probably just staying out, I think it's gonna be a whipsaw day
ES is on the channel line but not oversold yet. Best guess is that the market gaps down then reverses. ECB meeting Thu premarket and CPI numbers next Tuesday, PPI next Thu. Shitcoin dropped pretty good today, we may have hit the top. I'm hoping for the algos to start cycling, we'll see.
NQ almost oversold on my 3 hr chart, gonna wait until tomorrow and go long I guess. AAPL is already oversold on daily as I pointed out yesterday. Bought a handful of gold puts this morning just so I pay attention to the market, should shorted shitcoin instead, lol. SHorting TSLA would have been the right idea yesterday, I mentioned it and didn;t buy any puts. ...
ES and RTY aren;t oversold yet, NQ is already there. Not sure if teh market gaps down or not but I expect MFI to hit oversold tomorrow morning.
Looked like a little bit of futures selling EOD today. ES is still overbought, did not short anything, and certainly not going long until MFI and RSI hit oversold. I'm still waiting for algos to start cycling so I have confidence in my indicators.
AAPL daily indicators went oversold, wouldn't be surprised if they pump AAPL now to sustain the melt up. Too much divergence for me to stay bullish on the market, and it's not a good idea to trade scared, so I'm opting to stay out. Seeing AAPL oversold is keeping me from shorting the market. I was really hoping for indicators to start cycling again, but looks...
ES and RT MFI are overbought. NQ dropped below the line. I dunno, seems like the algos aren't in control, people just buying stupid shit like Bitcoin and gold is breaking out as well. Should've stuck with the AAPL/NVDA rotation trade, lol. That would have paid really well. Decided to close out my EWJ puts, and take the next couple of days off. Not gonna...
EWJ just double topped, country is in a recession FFS. Grabbed some March puts.
RSI hit overbought, ES RSI isn't there yet, so possibility of more pump Monday. Going all cash for the weekend, will look at possibly shorting something Monday
MFI went overbought. RSI isn't there yet... Kinda tempted to make at least a small play with put options, we'll see.