MFI oversold on NQ but I'd wait until RSI gets there before going long because ES and RTY are not oversold yet. Plus it could just continue to drift sideways.
TUR finally crashed, but Brazil (EWZ) is up, my usual plays like AAPL, GM, PCAR are flat. ARKK is down as usual though, lol.
Tricky trading right now, you gotta be good at picking stocks in either direction. I might have to trade index ETF options to make a little money, and you guys now I rarely play indices. I use these charts so I'm betting in the right direction when playing individual stocks, but I'm not particularly bullish or bearish on any stocks.... except maybe ARKK, I'm bearish on Cathie Wood because she always figures out a way to screw up, lol. Even then, I won't bet against ARKK on days where you expect NQ to go up.
No positions, sideways drift is terrible for options trading. Might do some gap trading when I see an opportunity. Could've made a little money if I had bought puts at close yesterday.
TUR finally crashed, but Brazil (EWZ) is up, my usual plays like AAPL, GM, PCAR are flat. ARKK is down as usual though, lol.
Tricky trading right now, you gotta be good at picking stocks in either direction. I might have to trade index ETF options to make a little money, and you guys now I rarely play indices. I use these charts so I'm betting in the right direction when playing individual stocks, but I'm not particularly bullish or bearish on any stocks.... except maybe ARKK, I'm bearish on Cathie Wood because she always figures out a way to screw up, lol. Even then, I won't bet against ARKK on days where you expect NQ to go up.
No positions, sideways drift is terrible for options trading. Might do some gap trading when I see an opportunity. Could've made a little money if I had bought puts at close yesterday.
Comment:
Non-farm payroll numbers premarket tomorrow. Good news is bad news, so we could see another gap down on open.
Apparently the market is stuck halfway between 0.25 and 0.5% rate hike for Feb, which means down if it decides .5% and up if it decides .25%. I'm inclined to believe 0.5% for Feb, so I guess that means I'm bearish.
Apparently the market is stuck halfway between 0.25 and 0.5% rate hike for Feb, which means down if it decides .5% and up if it decides .25%. I'm inclined to believe 0.5% for Feb, so I guess that means I'm bearish.
Comment:
Best guess is that the market gaps down on good payroll numbers, RSI goes oversold and we get a bounce in the afternoon or Monday
Just guessing at this point, and I'm not gonna bet on it. Staying cash while the market whipsaws sideways.
Just guessing at this point, and I'm not gonna bet on it. Staying cash while the market whipsaws sideways.
Comment:
Guessing more sideways action, not trading. SPX rarely leaves two open down gaps, so I don't really see a gap play for tomorrow either.