ES Update

MFI climbing fast but the market is going nowhere. That's bad news for bulls. Next leg down comes when MFI hits overbought.

Best guess right now is a gap up tomorrow then tank. Futures don't always go in the same direction as MFI during off hours trading so gap direction is not guaranteed.

I might buy some puts if MFI gets overbought on ES or NQ, but staying cash for now.

Comment:

PCE numbers Friday premarket. Fed budget and possible shutdown is also still in play.

I might not trade this week, we'll see.

Comment:

I think it whipsaws this week like I said last week. I'm not inclined to go long until it hits the red arrow target or until a fed budget deal goes through. I have trouble trusting those idiots in DC (both sides).

PCAR looks pretty bullish though, once again.

Comment:

FDAX hit oversold this morning and bounced. My indicators show gap up, but all news indicate that we're headed for a Fed shutdown.

It's a tough call when expected news doesn't match up with indicators. Cash is the best bet this week. Might do puts tomorrow if the algos go for the pump and dump.

Comment:

Most days when I tell you I dunno, the market just whipsaws, lol.

Algos are trying to do the pump and dump but nobody's buying into it because of the impending Fed shutdown. Staying cash for now.

I'm looking at financials for possible short if the market gaps up tomorrow.

Comment:

My favorite stock is now looking pretty weak. No reason for me to try to go long today.

If it gaps up tomorrow, I'm looking at shorting, if it gaps down, I'm looking at PCAR again, lol. Playing it day by day.

Comment:

LOL, gotta love the EOD pump. Gottapump futures faster than people can sell stocks off. Still thinking pump and dump tomorrow, there's probably gonna be some fake news about a budget deal premarket, then market falters in the afternoon.

I might buy puts tomorrow afternoon..... we'll see.