NQ and RTY are overbought but ES isn;t there yet. Gonna wait until tomorrow then find something to short.
Sorry for the slow updates, really haven't been paying much attention to the market lately. ES and NQ went oversold premarket, expecting this to move up Monday and Tuesday premarket. NQ chart looks similar, so posting just this one chart. Staying cash for now.
NQ MFI went overbought and promptly sold off. Good chance it hits the next line below next week.
RSI getting close to. Took a break for a couple of weeks, figured the market was gonna melt up and shorting is more fun, lol. Bought some puts yesterday and just flipped them since ES went oversold. There's a chance it gaps down tomorrow anyways, but not gonna chance it. Looking at shorting when my indicators go overbought next time now that the melt up is over.
MFI and RSI now oversold, but usually when it breaks one trendline it breaks two. I think it gets rid of the oversold condition then drops again.
Crazy that the market is rallying when Biden wants to increase corporate taxes, really doesn;t make sense so staying out. MFI overbought
RSI overbought but MFI isn't Market sure looks bullish but I don't chase overbought conditions. NQ looks like it wants to double top so staying cash for now.
Coiling once again, overbought on the hourly, so it looks like it needs a dip here which should complete the formation. This market is so pumptarded, I'm not sure which way this breaks. W could see a double top because $NDX looks like it wants to. Here's the thing.... Biden is going to increase corporate taxes along with anyone making $400k+. That's really not...
MFI still overbought, not tracking the overlay though
I imagine this gets at least the $34 gap fill before the next bounce. Should fill the next one too before April options expiration.
MFI is oversold but it can stay that way for a day or two like last time. RSI is not there yet. I would find something else to short though
Indicators don't show a direction, it could very well bounce again like it did Friday, but if it breaks the blue line it heads to the next one down. No indication if it will bounce or tank though
ES and YM MFI overbought, sorry for the late post, woke up a bit late Note: RTY is scrolling down from overbought but NQ has not gone overbought yet....
The selloff continues.... overlay says afternoon rally and/or gap up tomorrow, but I wouldn't go long until both MFI and RSI get oversold. I think it'll be a bull trap.
Hong Kong went overbought and immediately started selling off after their lunch break. Japan and Australia down big, Asia off to a bearish start this week.
ES and YM RSI went overbought on the Friday afternoon pump.