Both ES and NQ MFI very overbought, market back to red
They did the "not as bad as expected" pump on retail, lol. I added more puts. Fortunately I went with next week's puts instead of doing a one day "all or nothing" trade.
ES still needs a gap fill and the fact that they did a "not as bad as expected" pump on retail tells me it's a bull market and ES will get the gap fill, but MFI needs to go down so we get a dip here. BTFD when MFI goes oversold.
They did the "not as bad as expected" pump on retail, lol. I added more puts. Fortunately I went with next week's puts instead of doing a one day "all or nothing" trade.
ES still needs a gap fill and the fact that they did a "not as bad as expected" pump on retail tells me it's a bull market and ES will get the gap fill, but MFI needs to go down so we get a dip here. BTFD when MFI goes oversold.
Trade closed manually:
Too many dip buyers, closed my XRT puts for a grand profit, calling it good for the week.
I'm just doing light trading in this stupid market, might go big when MFI gets oversold, at least we know the algos are capable of really pumping this market.
I'm just doing light trading in this stupid market, might go big when MFI gets oversold, at least we know the algos are capable of really pumping this market.
Trade active:
LOL, looks like the dip buyers are gonna lose, re-entered XRT at a lower strike
Comment:
Still expecting a rebound Tuesday though.
I was right about small caps being the weakest sector, about the only thing i got right this week aside from shorting retail this morning on the pop.
I was right about small caps being the weakest sector, about the only thing i got right this week aside from shorting retail this morning on the pop.
Comment:
No recession fear at all, CAT is still up a buck.
BTC and gold down, the play of the day was to short gold before close yesterday for bank earnings. Bond yields are actually up, lol.
I think we get a dip Monday then they pump the market on something stupid like NFLX earnings next week. No real economic numbers coming out next week, it;s all earnings for the rest of the month
BTC and gold down, the play of the day was to short gold before close yesterday for bank earnings. Bond yields are actually up, lol.
I think we get a dip Monday then they pump the market on something stupid like NFLX earnings next week. No real economic numbers coming out next week, it;s all earnings for the rest of the month
Comment:
The dip buying stopped when everyone realized the same thing I did.... yields are rising.
I think people expected the market to rise with financials, and now we're going the opposite direction because of bond yields. Took me a while to figure it out as well, but I did post it earlier once I did.
You're welcome.
I think people expected the market to rise with financials, and now we're going the opposite direction because of bond yields. Took me a while to figure it out as well, but I did post it earlier once I did.
You're welcome.
Algos did a perfect pump and dump, now they're selling off the rest to dip buyers. then they'll gap it down either Monday or Tuesday and buy back in for the next pump and dump, lol.