ES Update

Still oversold but I dumped my PCAR stock on the gap fill this morning. That was my target. Quick 2k profit.

So I was looking at chart formations, and if that formation I pointed out was a pennant, then the target is much lower. I think the market drifts sideways for a few days since it's oversold then tanks again.... maybe a federal shutdown happens, I dunno. We put the dumbest people in office, lol. (Both sides, I hate both extremes)

Anyways, I'm done for the week, enjoy Ponzi Friday.

Comment:

I'm bearish until RTY hits my target (see daily chart).

Also, pay attention to budget negotiations, when a deal gets done the market will rally.

Comment:

Financials just lost intraday support, and AAPL rolled over pretty hard.

I bailed earlier because PCAR hit my target, and I can;t recommend holding a long position at this point.

Comment:

I'm beginning to think they shut the algos off

I've said this a few times the past month, if you're gonna go long, stick with quick one or two day trades.

If the market finishes red, it sets up for a potential gap down Monday, even though indicators are already oversold.

Comment:

Checking in before close, looks like sideways chop until the next leg down. No idea when that leg happens though.

Just gonna watch the market and take pot shots again with PCAR stock the next time it gaps down, lol.

Comment:

This looks like a margin call selloff, day 3 of a tank is when the margin calls hit.

Does not bode well for Monday