hungry_hippo

hungry_hippo Updated 

RTY and NQ MFI are overbought though RSI is not there yet. ES has not hit overbought. Not in a hurry to open a position, will wait to see if RSI gets overbought and short something maybe tomorrow or maybe even EOD today. Definitely not holding a long position overnight with FDAX overbought on both RSI and MFI. Would feel real silly if FDAX tanked tomorrow...

hungry_hippo Updated 

PCAR is forming a pennant, up side target is earnings gap fill, down side is the earnings bottom. Really weird intraday resistance at $85, which was my bull flag target that I last posted. Market seems bullish so I'm guessing gap fill.

hungry_hippo

FDAX hit the top and went overbought on RSI and MFI. Probably more whipsaw next week, staying cash. Hate it when indicators for different markets don;t match up, causes a lot of whipsaw. None of the US indicators are overbought yet.

hungry_hippo Updated 

MFI hit oversold, guess we're getting the usual Friday pump since PCE numbers came in as expected. Bought some PCAR stock while it was red, it needs a gap fill.

hungry_hippo Updated 

ES/NQ/RTY all hit overbought on RSI, small caps are slightly red now. I have no idea why Europe gets a 2% rally when ECB raised rates, that makes absolutely no sense whatsoever. Approaching a double top during a recession, lol. Whatever. Gap direction tomorrow will depend entirely on PCE numbers premarket. All I got are some BITO puts I bought with profits...

hungry_hippo

Overbought on RSI and approaching ATH. Somebody has to explain to me how a rate hike is good for Europe, lol, especially when they're already in a recession. Looks to me like they want to hit hat double top tomorrow morning, but PCE numbers will probably dictate gap direction for the US makret

hungry_hippo Updated 

Indicators are neutral, no idea which way it goes. Market will probably whipsaw even though they get what they expected.... .25% hike plus one more projected hike later this year. Always find it interesting that the market moves so much on expected news. Anyways, whipsaw in one hour. No position.

hungry_hippo Updated 

Hey look, I'm back. ES MFI almost overbought, RTY and NQ are not close yet. Looks to me like a pump and dump on the Fed tomorrow, gonna wait until after the Fed, and if they pump I'll buy some puts. We got the weird melt up I expected, and GM/PCAR both "sold the news" on earnings. Aside from the Fed tomorrow and earnings, keep an eye on what's going on with...

hungry_hippo Updated 

Expecting NQ to hit overbought tomorrow on the Fed pump, both RSI and MFI. I'm inclined to wait until after the whipsaw and make a decision EOD.

hungry_hippo Updated 

Someone is bound to ask, so I plotted NQ. Yes, it's overbought, but I don't recommend shorting it. Depending on earnings we could see a melt up or whipsaw. I'm probably taking a break because I don;t have a good feel for what the market will do on earnings. TSLA is bound to beat next Wed, NFLX not so much,.

hungry_hippo Updated 

Decided to sit out the CPI numbers since I wasn't sure which way it was gonna go. CPI numbers came in lower than expected and close to the Fed target at .2% m/m. Everything is overbought now on RSI, so not chasing Rate hikes are gonna slow down, there's a possibility of another pause next meeting. Not sure how much of a dip we'll get here, taking a break (if...

hungry_hippo

I wasn't gonna plot it, but if I don't I'm gonna have at least half a dozen people asking me to.... MFI hit overbought premarket and RSI is trending down,. Bearish until RSI hits oversold I guess. I am not shorting it though.

hungry_hippo

RTY seems to be the most interesting index so plotting that. MFI is touching overbought, but usually goes higher than m line, so I'm guessing RSI hits overbought tomorrow then we get a dip. Really strange day as ES and NQ are red and small caps are pumptarded. PCAR up 3%, but TSLA and GM are red. Just really weird, but it's a rotation from tech to garbage...

hungry_hippo Updated 

Looks to me like MFI wants to go oversold It's Friday so don't think the market will go down, but got the first gap fill on PCAR and closed out all of my long positions.

hungry_hippo Updated 

I find it interesting that small caps are just doing their own thing today and rallying. It did hit oversold on MFI yesterday unlike ES and NQ. I closed out all my long position after open because I figured the market was gonna whipsaw, but wish I had held PCAR stock. Looks like it's trading with small caps, despite being in both SPX and NDX indices.

hungry_hippo

Got the dead cat bounce we all expected, but man does it still look bearish. Looks like the Euros finally realized they are in a recession with rates still going up. Not really sure what happens Monday, staying cash over the weekend.

hungry_hippo Updated 

RSI trending up, MFI trending down. Will Europe get a bounce tomorrow or double dip into oversold? That's the question. The US market looks like it wants to go up, but gap direction and morning action is controlled by the Euros as you witnessed this morning.

hungry_hippo Updated 

RSI is not oversold yet, so maybe some follow through on the gap to get it there, especially since MFI is still actually close to overbought. FDAX, HSI, and RTY are all oversold on MFI and RSI. Unemployment numbers tomorrow before market open. I might go long on PCAR for the gap fill since it's gonna double gap down. Kicking myself a bit for not buying some...