Well, I did say there was a gap from Sunday night.... and all futures gaps fill at least on ES.
Almost bought some calls on the headfake, glad I didn't. Wasn't expecting such a big drop today, thought that was coming tomorrow after ES MFI got overbought. Tough market to time, made a little money on a day trade but not nearly as much as I could have if I anticipated the huge drop, bailed too early.
Funny how the market tanked on a variant that's not even deadly, RTY is oversold on the daily, but it did taht on the original COVID drop and still kept going down. No long positions until ES gets oversold on the daily, I think. Certainly gonna wait until ES MFI gets oversold on my 3 hr.
Almost bought some calls on the headfake, glad I didn't. Wasn't expecting such a big drop today, thought that was coming tomorrow after ES MFI got overbought. Tough market to time, made a little money on a day trade but not nearly as much as I could have if I anticipated the huge drop, bailed too early.
Funny how the market tanked on a variant that's not even deadly, RTY is oversold on the daily, but it did taht on the original COVID drop and still kept going down. No long positions until ES gets oversold on the daily, I think. Certainly gonna wait until ES MFI gets oversold on my 3 hr.
Comment:
Relied a little too much on the indicators, should have realized the morning rally was just a gap fill attempt on SPX.