Just drifting sideways, indicators are neutral. I think MFI goes oversold tomorrow morning on RTY and ES, will wait until then to BTFD, lol. I think it's gonna be a whipsaw day. Futures need to sell off but lots of dip buyers already. Slept in (kinda obvious now, lol) because I was all cash, no positions. Will take a potshot at the market again tomorrow if...
RSI hit overbought and stalled, MFI is overbought. Appears to be a rotation from small cap to tech, took the easy money and dumped my long positions
RTY MFI is overbought as is YM, but all other indices including ES, NQ, FDAX, and GC1! (gold) are all neutral. Not getting the pre-CPI pump I expected so far. Might just sit this week out, not feeling all that well. Don't need the heartburn, lol.
In this update we review the recent price action in the #Russell200 emini futures contract and identify the next high probability trading opportunity and price objectives to target
No idea what the other indices are doing, looks like a melt up on ES and NQ because MFI is dropping while RSI is rising. RTY is oversold, and PTON is up so it means short squeeze time, lol. Small long position, don't need the heartburn.
Appears to be a complete pump and dump failure. I got bullish because of the buy volume the past couple of days, but it hit overbought on MFI and now is dropping. i think there's potential for it to stay oversold for a day or two when it gets there because it's dropping on much lower volume. Those that bought have to sell, and volume isn;t matching up yet.
IN this update we review the recent price action in the Russell2000 emini futures contract and identify a high probability trading pattern and price objectives to target
RSI oversold again, but I wouldn't consider going long until ES and NQ also go oversold. ES MFI has a LONG way to go before it hits oversold. Plus the market gave up on the short squeeze and lost all interest in garbage stocks. PTON down 7% now. Friday is when funds rebalance their portfolios, and I'd imagine they'd want to get rid of garbage stocks and move...
RSI hit oversold, MFI has stayed oversold. No idea about gap direction tomorrow, but I'm sure this throws a reversal pattern.
Not at all what I expected today, small caps leading the market down. I don't recommend a long position until RTY goes oversold. Asia and Europe usually don't pump small caps, so it's probably toast this week. Chart pattern is extremely bearish.
In this update we review the recent price action in the Russell2000 futures contract and identify the next high probability trading opportunity and price objectives to target
Peace be upon you, merchants. An opportunity to buy. With a breach of support in 1915. As well as penetrating the descending channel. Which humiliates the power of buyers in the market. The price is moving up. In the coming days we can see. Price 2120. And the price of 2200
Russell 2000 will continue its upward trend. Exit at 3rd supply zone
Gotta be on the road this morning so posting an early update. Futures slightly green but ES and RTY MFI are heading to overbought quickly. Chances are good they hit overbought this morning. CPI numbers tomorrow before market open. I'm bearish, but could be another pump and dump like Europe CPI. Might just grab $1k worth of puts in garbage like BTC or ARKK for...
Russell 2000 EMA about to cross HA Trend Follow upwards. Exit at upper BB
This one is a bit more obvious, oversold. Watch out EOD because there will be shorts covering. Lot sof garbage stocks tanked this week including cryptos.
In this update we review the recent price action in the Russell2000 futures contract and identify the next high probability trading opportunity and price objectives to target
RTY MFI is like at zero, lol. There's a chance that RSI goes oversold before the bounce, depending on what Powell has to say here soon. If he pumps the market again (lol), small caps will prob have the best return