NQ Update

CME_MINI:NQ1!180

E-mini Nasdaq-100 FuturesCME

Description

⋅ Feb 16, 2021 4:34 AM

Every index is overbought on MFI and RSI

Comment

⋅ Feb 16, 2021 2:08 PM

Already starting to sell off premarket

Comment

⋅ Feb 16, 2021 3:21 PM

MFI is dropping fast, it means futures are selling off but people are buying stocks. When MFI gets oversold it will bounce back up.

Keep an eye on MFI, 3 hr plot with standard settings

Comments

Understanding789

⋅ Feb 16, 2021 5:53 PM

You mentioned Gaps always fill on futures does that count even on the 3min time frame?

miganga

⋅ Feb 16, 2021 5:28 PM

I know you are master of this. Do you think MFI & RSI should both go to oversold for a significant bounce or reversal?

hungry_hippo

⋅ Feb 16, 2021 5:36 PM

@miganga, it doesn;t have to but it's a good idea to wait before going long. Don;t FOMO yourself into a loss

davidd007

⋅ Feb 16, 2021 4:45 AM

Does this means correction soon?

hungry_hippo

⋅ Feb 16, 2021 5:36 PM

@davidd007, no a dip. 3hr charts won;t show a tank