RSI and MFI oversold so good possibility of a bounce, but at the same time there's a chance we have one more leg down to fill the open gap marked with the bottom orange line.
Overlay is just a possible scenario, all I know is I'm flipping my puts on open and watching. Will not be going long today.
Also, Europe looks like crap, and could get follow through action tomorrow. Not worth the risk going long yet, but do whatever you want with your money, lol.
Overlay is just a possible scenario, all I know is I'm flipping my puts on open and watching. Will not be going long today.
Also, Europe looks like crap, and could get follow through action tomorrow. Not worth the risk going long yet, but do whatever you want with your money, lol.
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Note: Premarket chart looks like a bear flag, which would mean another 50 pts drop. I doubt that happens but it's enough to keep me from going long.
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Flipped my puts for a $3k profit, I went light on Friday because I wasn't sure plus NKE had a hefty premium due to earnings Tuesday.
Not playing NKE earnings anymore, I flipped them. Taking the easy money because I have this horrible habit of losing a big chunk the week after making big money, on stupid plays like earnings.
Not playing NKE earnings anymore, I flipped them. Taking the easy money because I have this horrible habit of losing a big chunk the week after making big money, on stupid plays like earnings.
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Probably gonna whipsaw the rest of the day, so I'm taking the day off. $3k is pretty good for one day anyways, though a lot less than what I made last Thursday.
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LOL, I can't stay away. I guess I was right about the bear flag and another drop.
LULU and NKE both have a tendency to fill gaps which is why I flipped my puts, but I could have day traded LULU in both directions today, lol.
LULU and NKE both have a tendency to fill gaps which is why I flipped my puts, but I could have day traded LULU in both directions today, lol.
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Since people keep asking me...
(not sure why, it's not like I have a crystal ball. Just because I was right 7 market days in a row doesn't mean the 8th will be correct)
My best guess for tomorrow is a gap up and tank. I could be wrong and we could just tank. Ain't worth going long. Europe is in trouble and gold is down which means we're starting to see liquidity issues again much like the COVID tank.
(not sure why, it's not like I have a crystal ball. Just because I was right 7 market days in a row doesn't mean the 8th will be correct)
My best guess for tomorrow is a gap up and tank. I could be wrong and we could just tank. Ain't worth going long. Europe is in trouble and gold is down which means we're starting to see liquidity issues again much like the COVID tank.
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Just realized my overlay shows gap up and rally tomorrow, gap down Wed. I cn go with that. All cash.
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Opted to stay our of the market because I'm sleepy as heck. If you noticed I posted early this morning premarket, and I'm on Pacific Time.....
The plan was to flip my puts and take a nap, but no nap and sleepyyyyy.
I might sleep in tomorrow morning since I'm all cash, you guys might be on your own.
The plan was to flip my puts and take a nap, but no nap and sleepyyyyy.
I might sleep in tomorrow morning since I'm all cash, you guys might be on your own.
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I'm not entirely sure about this overlay so be careful....
I might do a small position in puts this afternoon using only this week's profits.
I might do a small position in puts this afternoon using only this week's profits.
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Timing and shape was a bit off on the overlay, but the general shape was correct....
NQ and ES are not oversold yet, so I wouldn;t go long just yet, even though we could see a bear flag tomorrow.
NQ and ES are not oversold yet, so I wouldn;t go long just yet, even though we could see a bear flag tomorrow.
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Plus I never go long on Wed, because Thu is the weakest day of the week.
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No idea as far as gap direction, all I can tell you is that there is more room to the downside.
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I have no idea who's pumping futures tonight, Australia is the only market that's not bright red