Overbought on MFI and RSI, but you probably figured that already. Hitting the upper trendline, but I think it will probably break the channel eventually, just not tomorrow.
Expecting a dip because the market usually goes down only on Thursdays during a bull run. No predictions except a dip tomorrow, no idea what happens Friday with employment numbers. At this point I expect them to pump bad news.
All index futures basically look the same though NQ is the most overbought.
Oddly enough, I'm up for the day now now because I'm shorting WMT. Imagine making money on a 3% up day with puts on a Dow component, lol.
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Apparently I was right earlier this week, this was a Fed pump (Bullard). Apparently he had nice things to say about Biden's wife or something, lol.
Bullard actually said 3.75%-4% by end of the year. Not sure how that's bullish, lol.
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Well there's the dip I promised, FDAX filled the gap and rolled over. Everything is still overbiught,m so not bullish for tomorrow anymore. Employment nuumbers tomorrow, probably a premarket whipsaw
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I still think the algo game plan is pump and dump tomorrow, flipped my WMT puts and probably done for the week. Made decent money.
I might buy a grand or two of BITO (shitcoin) puts to carry over the weekend if it;s red tomorrow. The tank always happens over the weekend, lol.
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SHorted BTC with next week's BITO $13.5 when it started going down, also went long on PCAR stock again, lol. So hedged bet for tomorrow.
My theory here is that employment numbers will be good, yields rise but they pump the market on good news, because no good news is good news (no recession) and bad news is also good news because then yields will fall, lol.
The bet is that bond yields will rise though. PCAR is a dividend stock and BTC is garbage, lol.
I was correct again Charts and drawing does not and can not predict the market Soon will change
hungry_hippo
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@tt10001, look at my WMT chart, lol. Sometime you just have to predict what the algos are going to do. In this particular case, it broke the down channel, so I'm bullish for a while.
wolffarchitecture
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The weekly Bullish cycle is where i have made 1/2 my profits. Bearish weekly cycle is the inverse. (IF BULL) Wednesday starts low finishes high, Thursday is low or set the bottom, then 70% chance Friday will be bullish and if Friday is bullish 70% chance Monday will be bullish as well (over the weekend all the retailers stare at the Friday candle with FOMO) , then Tuesday reset and is often volatile (good day to be on the sidelines) the repeat. As mention this is inverse for bear markets is this is not always the case the are super bull and supper bear markets which make up the other 30%. There is also a monthly and yearly cycle....GLAD you mentioned it it should be more common knowledge.
tt10001
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Once again not sure Very much mixed info Dollar is not showing up trend For whatever reason Possibility higher high tomorrow
SquishTrade
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Nice post. Not sure how 3.75-4.00% is bullish, but the market is interpreting Fed chair's unscripted comments from the late July FOMC in a very bullish manner, whether that is warranted or not seems to be the big debate.
Charts and drawing does not and can not predict the market
Soon will change