Something I noticed while flipping through some charts, RTY1! daily MFI is overbought along with GM, PCAR, YM1! (Dow futures), Dow components like WMT, CAT, YNH, etc along with XLF (financial ETF).
Definitely not chasing a Fed pump even if my 3 hr indicators show oversold. My favorite stocks are overbought, that's a signal to take a pause. Will be shorting when 3 hr indicators go overbought.
Definitely not chasing a Fed pump even if my 3 hr indicators show oversold. My favorite stocks are overbought, that's a signal to take a pause. Will be shorting when 3 hr indicators go overbought.
Note
Note: I think there's a good chance RSI gets overbought as well probably next week. We'll see.Note
Well, I warned you guys yesterday.Daily overbought and 3 hr oversold so we got that bounce before the whipsaw and down.
I'm bearish for tomorrow.
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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.