Get started
hungry_hippo

NQ Update

NASDAQ 100 E-mini Futures (CME_MINI:NQ1!)  
hungry_hippo Updated   
CME_MINI:NQ1!   NASDAQ 100 E-mini Futures
Chart Patterns Technical Indicators NASDAQ 100 E-MINI FUTURES QQQ
20
8
chartpattern indicator nq1! qqq
Ouch, lol. Melt up is obviously over.

I think both RSI and MFI need to go oversold before we see a bounce. The week got a whole lot more exciting.

This is why you don't place bets on a melt up.
Comment:
The original COVID futures gap took an entire year to fill, I'm guessing the gap above doesn't fill for a while.

Looks like the tank is done for the day though, bought some BITO puts for next week's Fed meeting
Comment:
I'm not planning on playing the bounces, but we should get one when RSI goes oversold then another when MFI gets oversold. Probably happens Thu.

Generally speaking it's hard to play the first bounce because the next selloff can come at any time
Comment:
RSI now touching oversold
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.