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hungry_hippo
Feb 24, 2022 2:20 PM

NQ Update 

E-mini Nasdaq-100 FuturesCME

Description

MFI hit oversold as predicted, but NQ has not hit my lower channel line so possibility of more downside.

Going with my indicators and flipping my puts on open, I DO NOT recommend going long. Nobody is gonna want to hold a long position over the weekend, if the market tries to fill teh gap, it'll probably tank again this afternoon and/or tomorrow morning.

Comment

Flipped my puts on open (wow was execution slow this morning).

Was tempted to re-short some garbage that filled the gap like PTON, but I think I'm taking the day off. Already made my money anyways.

Comment

Indicators show oversold anyways, and there's no way I'm losing my profits by going long, lol.

Comment

Went oversold so it appears shorts are covering. Lots of garbage stocks are green right now, lol.

Definitely taking teh rest of teh day off, see ya later
Comments
Eric_From_PA
Yeah, this is looking like December of 2018.
hungry_hippo
@Eric_From_PA, yeah, remember that's when Powell did the double rate increase.

This is more about rates than Ukraine, Putin just accelerated the drop, that's all. TSLA wsn;t going to maintain that price level, war or not.
Divergencify
Thanks for sharing, great charting as always. Let's see it it bounce from here.
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