hungry_hippo

ES almost overbought again

CME_MINI:ES1!   S&P 500 E-mini Futures
ES goes overbought, its gonna sell off again.

In other words, up then down, more whipsaw lol. WHIPSAW!

THe problem is that world markets aren't aligned, FDAX is lose to oversold, ES is close to overbought, between the two they're whipsawing the world market. Also, Asia and Europe have gone indifferent directions almost every day.

Tough market to trade. Don;t try to follow momentum because there isn;t any.
Comment: No longer overbought because of the last dip.

No idea where this is going midday. Will look at it again in the afternoon.
Comment: No indication for direction tomorrow.
Comment: All indicators in the middle, could be a flat open
Comment: FUtures flat so far. It all depends on the Euros now.

Comments

agreed....i got chopped left right front and back....
+1 Reply
i am thinking down tomorrow...we need to get to RSI 30 on the daily I think before we can head back up to 350+ might not happen tomorrow, but I would imagine next week it could then election spiking and stimulus comes to send us into orbit
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still a down end of day i believe; beware of it all, this time of year specifically this day and next 7 days are historically very bad. if up they will say its the stimulus hopes; if down, the uncertainty of the election HA
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big wave 3 coming up
Reply
get ready to go in...we will rip up after one more drop
Reply
one more larger down to reset MFI and then up and away IMO...head and shoulders forming
Reply
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