ES Midday Update

RSI and MFI both oversold but RSI has been tagging along that oversold line without any big pumps. I've been saying playing these bounces isn't worth the risk. Looks like I was right.

Unemployment numbers tomorrow, PCE and PMI numbers Friday, Fed shutdown Monday.

I don't bet against my indicators, so not shorting anything. I know I haven't been much help in making money the past week, but hey if you listened to me, you didn't lose any either. We'll play with it next week.

Comment:

In hindsight, the way to play this would've been to buy next week's puts in either an index ETF or financial ETF, and ride out the whipsaws.

No the way I usually trade, but the next time I see a chart pattern, that is my plan. Never too old to learn, I guess.