Touched the overbought condition, MFI divergence. Rare intraday dump, but that's what futures signaled for.
Expect the gap below to fill tomorrow or Monday, but at the same time the market tanked so fast there's gaps down in futures. So more whipsaw I guess.
Either way, bearish for tomorrow, but you never know. Algos can get pumptarded.
Expect the gap below to fill tomorrow or Monday, but at the same time the market tanked so fast there's gaps down in futures. So more whipsaw I guess.
Either way, bearish for tomorrow, but you never know. Algos can get pumptarded.
Comment:
As bearish as the charts and indicators may look, there's always the possibility that the Euros will pump futures again. I'm convinced that this has as much to do with negative interest rates in Europe as it does with the China trade talks.
As always, be careful what you short. One thing to note though is that FAANG stocks look weak other than AAPL. Don't short AAPL, damn thing is going parabolic, lol.
As always, be careful what you short. One thing to note though is that FAANG stocks look weak other than AAPL. Don't short AAPL, damn thing is going parabolic, lol.
Comment:
Futures whipsawing AH, appears that not all of the algos are on the same page. In the end, it's the Euros that get to decide the morning gap, so we won't know until the morning.
Futures looked weak yesterday as well, until they jacked it up in the morning.
Futures looked weak yesterday as well, until they jacked it up in the morning.
Comment:
Asians selling off, but the gap gets decided by the EUros, so we'll see what they do in the morning.
I've gone to sleep with futures down over 15 points only to wake up with futures up big. Futures are coming down from an overbought condition though, but the EUros can send it right back up like last night.
All my positions are short, so hopefully they don't jack it up.
I've gone to sleep with futures down over 15 points only to wake up with futures up big. Futures are coming down from an overbought condition though, but the EUros can send it right back up like last night.
All my positions are short, so hopefully they don't jack it up.
Comment:
Futures red across the board though only a couple of points. I think we get a dip and reversal today but you can never predict this wacky market.
At least there was no EUro pump this morning like the last 5 weeks, lol.
At least there was no EUro pump this morning like the last 5 weeks, lol.
Comment:
Note that I drew a pennant on the other chart, looking at this one, it could hit either trendline (upper or middle) this week.
Bearish for tomorrow, but you never know.