Seems like we're just whipsawing like crazy this week. One thing I noticed is that the indices will rally when oversold on the hourly (or 2hr which I prefer). Obvious opportunity for day trading, buy the dips and don't hold anything overnight until the computerz decide to sart pumping futurez overnight again.
Futures don't seem to follow through on anything the market does during the day, so I'm staying out for the weekend. Charted the rally target if it goes up Monday. Looks like a bottom though, but who knows what China will do.
I stayed out of the market today, but I should have known I would rally because it's 401k payday Ponzi Friday. That and everyone with weekly options (calls or puts) get wiped out when the market finishes even. (Boy if you had puts and didn't flip them in the morning you are one greedy bastard.)
Futures don't seem to follow through on anything the market does during the day, so I'm staying out for the weekend. Charted the rally target if it goes up Monday. Looks like a bottom though, but who knows what China will do.
I stayed out of the market today, but I should have known I would rally because it's 401k payday Ponzi Friday. That and everyone with weekly options (calls or puts) get wiped out when the market finishes even. (Boy if you had puts and didn't flip them in the morning you are one greedy bastard.)
Comment:
Another gap down, kinda figured this might happen, this is why I stayed out of the market. Futures are whipsawing way too much right now.