Unbelievable, NQ daily MFI is oversold. That implies we're going parabolic, probably on the Powell pump next week.
Small caps and meme stocks really weak though. Got that sector rotation I predicted.
Small caps and meme stocks really weak though. Got that sector rotation I predicted.
Comment:
The one thing I've noticed about the algos, especially the Asians is that there is an ongoing assumption that the market will continue to make new highs, if that assumption fails then the algos are toast.
In other words, I'm saying that the market can continue to go down even if daily MFI hits oversold, but it's only happened twice in the past decade.... COVID and the EOY 2018 rate hikes. We'll see what happens here.
In other words, I'm saying that the market can continue to go down even if daily MFI hits oversold, but it's only happened twice in the past decade.... COVID and the EOY 2018 rate hikes. We'll see what happens here.
If they pump NQ until daily MFI gets overbought, AAPL probably hits $300, not $200, lol. Market dumping garbage and pumping a few select stocks. I'd be bearish as hell on AAPL if NQ wasn't oversold.