Indicators aside (which are oversold), NQ shows 2 bear flags, a smaller intraday one and a bigger one it formed this week.
Target is the support line, so I wouldn't go long until next week... this looks like a repeat of January, and look what happened on the last Monday of the month.
I shorted SNAP while it was green with some of my profits, so I'll probably hold onto that and stay cash otherwise. (BTW, I told you guys yesterday to watch SNAP)
Every crap stock is in no man's land below support, if the market gaps down Monday we can see some huge moves since the market will rip through stop loss orders. Then probably a reversal Monday afternoon or Tuesday to make those people feel stupid, lol.
Target is the support line, so I wouldn't go long until next week... this looks like a repeat of January, and look what happened on the last Monday of the month.
I shorted SNAP while it was green with some of my profits, so I'll probably hold onto that and stay cash otherwise. (BTW, I told you guys yesterday to watch SNAP)
Every crap stock is in no man's land below support, if the market gaps down Monday we can see some huge moves since the market will rip through stop loss orders. Then probably a reversal Monday afternoon or Tuesday to make those people feel stupid, lol.
Trade closed manually:
Quite the futures pump, flipped my puts for extra beer money.
No point in going long though, all cash.
No point in going long though, all cash.
Comment:
Huge EOD headfake, but every index is now oversold on MFI and RSI.
Of course that means nothing if they turn off the algos, and certainly some of the big boys did. EOD action looked like hedge funds closing both short and long positions, real stocks like AAPL went down and crap like SNAP and PTON went up on short covering.
Of course that means nothing if they turn off the algos, and certainly some of the big boys did. EOD action looked like hedge funds closing both short and long positions, real stocks like AAPL went down and crap like SNAP and PTON went up on short covering.
Comment:
You gotta absolutely love my arrows, it hit both of them, lol
I honestly don't see any investors pumping money into the market with stocks tanking on earnings, it's all just chart watchers and as PTON showed today, playing indicators and support levels can be dangerous.