CME_MINI:ES1!   S&P 500 E-mini Futures
MFI oversold again but Europe is tanking and selling of futures anyways.

We might get another bounce after Euro markets close like yesterday, but the market will remain weak until the Euros are done tanking. Could have been worse for longs, DAX is down over 1%. I said it yesterday... Euro markets are weak, be careful going long.
Comment: Chart pattern is the same as last week, probably more whipsaw until Thu morning then a rally.

Some stocks are up some down, gotta pick your stocks carefully.... or just stay out.
Comment: MFI is oversold but it looks to e like a bear flag and RSI needs to go oversold again before a bounce

Also, AAPL rolled over, and AAPL is the market.....
Comment: End of the day dump just like last Tuesday. Probably a flat open tomorrow.
Comment: MSFT down AH despite beating big. If earnings can;t pump the market then nothing will until the stimulus package talks start again.

Comments

Nice idea
+2 Reply
welp we touched 30RSI on the daily after that massive dump...see what happens next...
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yep, pulled trigger too soon on some longs but still up a bit otherwise
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i think we need to get down to 30 RSI on the daily...havent hit yet quite yet but were getting close...i think overnight tonight we will hit it, bounce, and then shoot up very hard from there...
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Good stuff.
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