Doesn't show up well on the 3 hr chart because it reversed so sharply but MFI did hit overbought. I mentioned it on my RTY post yesterday and if you look at the RTY1! chart, it clearly goes overbought, so did YM. RSI having trouble holding above 50 like I mentioned earlier this week.
Tomorrow is Ponzi Friday plus quad witching. Expect the gap to close and big whipsaw regardless of which way the market gaps.
Indicators now neutral so hard to say which way this goes tomorrow. Will update only if I see anything. Not feeling very bullish or bearish today at this point.
Tomorrow is Ponzi Friday plus quad witching. Expect the gap to close and big whipsaw regardless of which way the market gaps.
Indicators now neutral so hard to say which way this goes tomorrow. Will update only if I see anything. Not feeling very bullish or bearish today at this point.
Comment:
Indicators aside, it looks to me like the market is setting up for another pump and dump
Comment:
MFI headed towards overbought again, so I'm still going with the pump and dump projection for tomorrow. Keep in mind last Friday was a selloff...