Indicators are neutral, not sure what the market is doing. Guess I shouldn't have worried about gap direction and bought into teh oversold condition Friday. The premarket dumping and pumping isn't making much sense to me the last couple of trading days, so staying out for now.
I feel like there's a high potential for a gap down Monday for US market if Europe rolls over, FDAX indicators pointed in that direction. Not worth the risk, staying cash.
NQ hit oversold, ES hasn't. Still just gonna wait until Monday, and hope for a gap down. It is Ponzi Friday and options expiration, so we could see a bounce EOD. Not gonna play it.
Rut row, bottom channel broke and it looks like RSI is gonna go oversold. Still more room to teh downside before that happens. Cashed out my PCAR stock for a nice gain, better lucky than good, I guess. Made so much money off that stock though...
MFI hit oversold as predicted, same with NQ. RTY is a bit interesting, RSI hit oversold but MFI didn't. Not sure which way the market gaps tomorrow, but it is Ponzi Friday, and it looks like the market wants to pump going into the Fed meeting because Powell told Congress last week that he's cutting rates. It's the Village Idiot rally, lol.
Well there's the pump and dump with the Thu dip I predicted earlier this week. Probably melts back up when MI hits oversold. Gonna wait until MFI goes oversold, maybe a small long play EOD for Ponzi Friday
QUite the whipsaw day. Still think pump and dump tomorrow.
Looks like it was the Euros that did the morning pump. FDAX overbought on RSI now.
Bad inflation news or not, the algos won't be denied, lol. Expecting it to go overbought tomorrow, and reverse for a dip on Thu. I was busy doing other stuff and missed the pump, just staying cash. Would've been a lot easier if it the same thing as last month and gapped down big, this morning was a bit tricky, wasn;t sure what it was doing.
MFI went oversold before market open, but RSI hasn't. MFI is a poor indicator for gap direction, gap will be dictated by CPI numbers premarket. Then we have PPI coming up on Thu. ES is still in the channel though...
As I posted last night, I'm bullish long term, but my short term RSI indicator appears to have gone overbought and now cycling down. The way to play this is to wait until RSI or MFI hit oversold and buy the dip. I don't think I'm buying until Thu morning, CPI and PPI coming out Tue and Thu. BTFD, lol. Threw some beer money at some puts, just goofing around...
Never in the history of the Fed has the chairman been stupid enough to talk about rate cuts when the stock market is at an all time high. www.cnbc.com Powell is an unbelievable moron who's going to cause rebound inflation by pumping the market. I'm no longer bearish because I realized today that all of the central bank chairs are morons. (The ECB meeting was...
Well ECB meeting happened, market green. Looks like it can go further tomorrow on Ponzi Friday. CPI numbers Tuesday, will look at buying puts on Monday.
Indicators are neutral, the big news tomorrow is ECB meeting premarket. Bunch of retailers reporting earnings this afternoon as well, but ECB will have a bigger impact. Inflation numbers Tuesday, I think I'd rather bet on that than the ECB. I'm still bearish, but ou have to have good timing to make any money shorting anything.
I guess I should've known they'd pump futures overnight because NQ hit oversold yesterday. Be careful holding anything overnight though, ECB meeting tomorrow premarket. Probably just staying out, I think it's gonna be a whipsaw day
ES is on the channel line but not oversold yet. Best guess is that the market gaps down then reverses. ECB meeting Thu premarket and CPI numbers next Tuesday, PPI next Thu. Shitcoin dropped pretty good today, we may have hit the top. I'm hoping for the algos to start cycling, we'll see.
NQ almost oversold on my 3 hr chart, gonna wait until tomorrow and go long I guess. AAPL is already oversold on daily as I pointed out yesterday. Bought a handful of gold puts this morning just so I pay attention to the market, should shorted shitcoin instead, lol. SHorting TSLA would have been the right idea yesterday, I mentioned it and didn;t buy any puts. ...
ES and RTY aren;t oversold yet, NQ is already there. Not sure if teh market gaps down or not but I expect MFI to hit oversold tomorrow morning.