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hungry_hippo
May 17, 2021 2:22 PM

NQ Daily MFI Update 

E-mini Nasdaq-100 FuturesCME

Description

NQ daily MFI always bounces from an oversold condition, though there's no guarantee that last week was the bottom. Not feeling very bullish since my 3 hr chart went overbought pre-market.

Sitting out today, looks like a bad day to day trade.

Comment

Looks like a bull flag now on teh hourly.

Retail earnings this week, I think numbers will be great but guidance will suck. Rotation from retail to tech is what I expect.

Comment

TSLA is gonna eat crap if the algos don't start pumping futures soon

Comment

Double dip into oversold territory for the first time since 2016
Comments
UnknownUnicorn11430563
Nice chart. Thank you!
MightAssTouch
Why is nobody on forums talking about EU inflation numbers this weekend. Pretty big risk event imo.
mc_speculator
same.. no way short
DaddySawbucks
yes whipsaw day sucker us into shorting only to surprise rally that fails and rollover again, lol. ending reaction rally in ongoin correction imo
hungry_hippo
@DaddySawbucks, retail earnings this week, and I'm guessing sector rotation into tech because the market never goes down, lol

Crypto.... the only person that can tank the market is Musk.
DaddySawbucks
@hungry_hippo, it's forming a descending wedge which is bullish, wouldn't get short here
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