Not overbought yet, looks to me like it fills the gap Tuesday on a pump and dump. Looks like you'll still get the daily update Tues/Wed because I'm planning on shorting something, maybe shitcoin, lol. Debt deal will be a "sell the news" event next week. Keep in mind all it does is maintain the status quo, it doesn't actually mean anything. Market does look...
PCE numbers came in higher than expected as I predicted but apparently the futures traders don't care, lol. Futures barely touched red and went right back up. Probably more whipsaw today, a pump on debt deal and then a a dip next week when MFI gets overbought. Gotta love it when the market pumps bad news.
ES still going sideways, 7 weeks now, lol. Not really making any money trading, so I'm only gonna trade when i see something.\ Basically that means I'm only posting updates when things go oversold or overbought, just assume whipsaw or a mixed bag like today otherwise. Looks like more whipsaw today, lol. Good luck.
Didn;t hit overbought yet on RSI but damn QQQ looks like it printed an exhaustion gap, We'll see tomorrow.
The problem with micro cap stocks is that a pump on news doesn't last very long. FCEL dropped out of a pennant reversal, looks like it's going to fill that news gap. I wouldn't buy until MFI goes oversold on the daily, probably headed below $ 2 again within the next 2 weeks. I said a few weeks ago that this wouldn't make it above $ 3 resistance, it only made...
MFI hit oversold. NQ RSI is almost overbought on this huge pump. Remember ES is in the whipsaw zone again. I'm probably not trading today or tomorrow. Reducing the number of trades I make since the market is going sideways, and I'm not really making much money.... I'll put up a post, but it's still tracking that big blue arrow, lol. Since I'm expecting...
No really sure if this is a true e=pennant or if it's just going flat like last summer (highlighted) Kinda surprised it finished flat on a day the market tanked, not sure if that's bullish or just part of the whipsaw. Indicators all flatlined as well.
Well, it did bounce when it hit oversold, so there is a chance it just drifts sideways like it did last Nov/Dec, and then pops up with the Fed meeting in June or July or whenever. In the meantime, it might just keep cycling between overbought and oversold.... in which case there's money to be made. If you went long today, then you better hope it's still cycling....
ES and NQ are oversold on both RSI and MFI, RTY is not there yet. Not sure when the market reverses today, Fed meeting minutes come out 2pm, Yellen speaks at 10am.
ES and NQ are oversold but small caps arn;t yet, and it looks like we won;t see a bounce until it does. Not chasing the drop at this point, so just waiting for tomorrow, lol
Looks like my original pennant was correct, and yesterday was just a headfake. RSI is now oversold, but I'm not touching it, and I don;t recommend it. Good chance it retests the pennant before tanking, which would be yet another crypto headfake, lol
Appears it's just whipsawing sideways cycling from overbought to oversold in a pump and dump scheme. Made money on it last week, lost money on it this week chasing it, lol. Gonna kick myself. No point in chasing this garbage, if it continues to cycle, just short the pops. This isn't the stock market so no guarantee it continues to cycle, it does look like a bear flag.
Oversold on both RSI and MFI, dropped the whole BS pump. I think this drop is more about FDAX hitting ATH than it is about debt ceiling, why else would Europe be tanking?
RSI more or less hit oversold, time to flip your puts. Bought some shitcoin calls for kicks and giggles. Though I gotta admit, these shits and giggles bets are costing me my profits, lol. Market might gap down tomorrow in which case it's buy the gap....
Hit overbought on RSI and MFI, but I think it's a pump and dump. Expecting a gap up tomorrow, maybe dump on Fed minutes? Keep in mind RTY can go way overbought or oversold, least reliable of the index indicators. TLT already looks like it's hit bottom, so I don't see a tank coming either way.
MFI isn't overbought yet, so we could see a gap fill attempt before the next drop All I did was break even today because I lost money on BITO puts, made money on ROST and TGT puts. I guess retail was the way to go. PTON and BUD were a wash. Gonna wait until MFI hits overbought and try again, no shitcoin though, lol. Also someone asked me about gold yesterday,...
MFI no longer oversold, RSI almost overbought. If it gaps up again tomorrow, probably a pump and dump. Market usually whipsaws when Asia/US/Europe decide to go different directions. Next rally probably won;t happen until Europe goes oversold on the short term indicators. We'll see.
BTC coiling, projecting a big move by the end of next week. Indicators are neutral, no direction signaled. Premiums are too high for a straddle. Just something to keep an eye on.