Looks to me like NQ and ES are doing a melt up, but both need one more dip so that MFI gets oversold then the market heads up.
Not sure if that happens this afternoon or tomorrow morning. If you;re shorting garbage stocks, you should've flipped those puts at 8am PST. Seems to be teh daily bottom lately
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Obviously I didn't see the afternoon tank coming, obviously not a melt up.
I think the market is gonna whipsaw downwards with lower lows and lower highs, like what NVDA is doing already. I don;t think it will be a straight tank.
I am gonna pay better attention to all indices, got too bullish because RTY MFI went oversold. ES and NQ RSI and MFI need to get oversold before the next real bounce.
Looks fine now. I had my doubts mid-day so I wouldn't have posted anyways. In the end I was right. It reversed.
rickyrt
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@hungry_hippo, thanks much appreciated, it was tricky price action, I managed to hold my positions so happy at the moment, NAS almost managed to regain the weekly 21 EMA so looks like might be enough for continuation. My girlfriend wants an expensive Valentines trip away so took on too much risk there to cover it. I know better than to over expose but we break our own rules sometimes I guess.
hungry_hippo
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@rickyrt, yeah, I screwed up some plays today. I was trying to time it based on Monday and everything was about an hour later.
I'm pretty sure Tuesday is an up day, but no idea after that. I play day by day. Notice I was bearish yesterday and bullish premarket, lol.
rickyrt
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fuck got caught heavily long here - any suggestions cut losses here or look for some kind of rebound or HODL?