I was right yesterday about the premarket pump despite the unemployment numbers, I bailed early because I'm always skeptical when the market pumps bad news.
Anyways, RSI went oversold again indicating that this is a melt down (opposite of how it usually melts up). I do NOT recommend going long today because CPE numbers will suck premarket tomorrow.
ES broke my blue trendline, which indicates this was a false breakout. Despite indicators, I think we still gap down tomorrow then bounces because of short covering. Much like a melt up, I do not expect my indicators to work here. I guess MFI staying at the bottom for an extended time should have been a clue. Also, Wayfair (W) earnings took out money losing garbage stocks and ended the attempted short squeeze. PTON red.
Not trading tomorrow, so all cash aside from a few TUR puts. I'd lean bearish despite the market being oversold, there's no way they pump CPE numbers premarket tomorrow. If they do, it'll be a repeat of this morning.
Anyways, RSI went oversold again indicating that this is a melt down (opposite of how it usually melts up). I do NOT recommend going long today because CPE numbers will suck premarket tomorrow.
ES broke my blue trendline, which indicates this was a false breakout. Despite indicators, I think we still gap down tomorrow then bounces because of short covering. Much like a melt up, I do not expect my indicators to work here. I guess MFI staying at the bottom for an extended time should have been a clue. Also, Wayfair (W) earnings took out money losing garbage stocks and ended the attempted short squeeze. PTON red.
Not trading tomorrow, so all cash aside from a few TUR puts. I'd lean bearish despite the market being oversold, there's no way they pump CPE numbers premarket tomorrow. If they do, it'll be a repeat of this morning.
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We're getting bad news but the market is already oversold. Expect whipsaw action tomorrow and next week.
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If I was trading tomorrow, I'd probably buy puts EOD for the gap play. Market is bouncing because it's oversold again, but I can't see them trying to pump bad news 2 days in a row.
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I think whipsaw tomorrow, not trading or posting tomorrow.
Good luck, see ya Monday.
Good luck, see ya Monday.
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Grabbed a few BITO puts, next week's OTM because I'm not trading tomorrow. Just for kicks and giggles, I think CPE comes in high and cryptos drop accordingly
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Looks like I was right.... again.
Will post an update Monday morning.
Will post an update Monday morning.
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Sorry, woke up late and missed the fun. Obviously the market isn't gonna rally with the bad news Friday. Euros trying to pump CPI again, lol. Numbers come out Wed.
Spain CPI and China GDP overnight, no reason to be bullish. Indicators are not showing much right now, so no plot.
Spain CPI and China GDP overnight, no reason to be bullish. Indicators are not showing much right now, so no plot.
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No idea what the market is doing right now. Almost looks like the Xmas whipsaw, be careful chasing it in either direction.
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Europe selling off after pumping Monday morning, lol.
We'll see what the charts look like in the morning, but it looks to me like RSI is headed to oversold.
For those of you that joined recently, futures all move in teh same direction, when Europe dropped on open, US futures went red.
We'll see what the charts look like in the morning, but it looks to me like RSI is headed to oversold.
For those of you that joined recently, futures all move in teh same direction, when Europe dropped on open, US futures went red.
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Just more whipsaw, Germany CPI tomorrow morning. US unemployment claims Thu.
Nobody wants to throw money into the market with all of these inflation numbers coming up. Wish they would just price in the damn rate hikes so we can move on, lol.
Nobody wants to throw money into the market with all of these inflation numbers coming up. Wish they would just price in the damn rate hikes so we can move on, lol.