RSI about to hit overbought with MFI divergence.
Still bearish on retail for tomorrow, I think even if the market goes up, retail will be a drag, Retail tends to impact small caps more than SPX though.
Added to my XRT puts earlier. that's all I'm playing overnight.
Still bearish on retail for tomorrow, I think even if the market goes up, retail will be a drag, Retail tends to impact small caps more than SPX though.
Added to my XRT puts earlier. that's all I'm playing overnight.
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The other thing is that the chart shows the algos cycling now after whipsawing the last few days. Keep an eye on MFI.
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Also, WFC, JPM, and C report earnings tomorrow. Maybe they pump banks pre-market and RSI goes overbought, then the market drops on retail numbers, lol.
Banks don't have to mark to market unless they sell their bonds, just because they're sitting on billions of $ of underwater bonds doesn't mean they'll report a loss. SIVB reported a profit like a month before they went belly up, lol.
Banks don't have to mark to market unless they sell their bonds, just because they're sitting on billions of $ of underwater bonds doesn't mean they'll report a loss. SIVB reported a profit like a month before they went belly up, lol.
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If you want to short an index for tomorrow, I think IWM (small caps) is your best bet. I'm going with retail ETF, XRT. I don;t think bad retail numbers will imapact tech that much, we'll see.