I added the labels to my indicators per request.
RSI appears to be headed to oversold, that is where I flip my puts, should be right around the blue line.
Not going long unless MFI gets oversold though, I do not trust this market at all. Today is not the day to establish a long position, you won't be able to sleep over the weekend, lol. I expect a short covering kick EOD, EOD direction DOES NOT INDICATE GAP DIRECTION!
(not sure how many times I have to say that)
As far as I'm concerned, the market is toast, AAPL/TSLA broke support and GM appears to be headed to $30
RSI appears to be headed to oversold, that is where I flip my puts, should be right around the blue line.
Not going long unless MFI gets oversold though, I do not trust this market at all. Today is not the day to establish a long position, you won't be able to sleep over the weekend, lol. I expect a short covering kick EOD, EOD direction DOES NOT INDICATE GAP DIRECTION!
(not sure how many times I have to say that)
As far as I'm concerned, the market is toast, AAPL/TSLA broke support and GM appears to be headed to $30
Comment:
RSI just hit oversold, I wouldn't open any new short positions, but I decided to leave my puts open for Monday.
Comment:
Quite the reversal there as soon as I said RSI went oversold, wound up flipping most of my puts, holding PDD for earnings.
We'll see what happens Monday. Not getting bullish until MFI is oversold.
We'll see what happens Monday. Not getting bullish until MFI is oversold.
Comment:
LOL craziness, can't hold a long or short position for too long now. Too much movement too fast to hold anything for longer than a few hours.
Indicators are neutral now, no indication of direction for Monday. Mostly cash except PDD puts, earnings next week.
Indicators are neutral now, no indication of direction for Monday. Mostly cash except PDD puts, earnings next week.
Gap direction doesn't really matter though, it will go red at some point Monday because of margin selling. It's the opposite of my short squeeze rule, 4 days....