Gap direction has been hard to determine because FDAX is whipsawing, but it did bounce off of oversold MFI overnight, so I assume gap up tomorrow. As I'm typing this someone pumped futures, lol.
No idea which way it gaps tomorrow on unemployment numbers. However, it looks like MFI will go oversold regardless of gap direction so watch for it tomorrow. Good news is bad news and vice versa, so watch out. This whole week looks like Xmas so I highlighted it. If it gaps down big tomorrow, I'll go long with next week's calls.
In case you're wondering why there hasn't been any updates, just look at the chart.... sideways whipsaw with a slight down trend. Went long on PCAR this morning while it was in the red because it has a gap above to fill, and GM didn't drop with the market. Anyways unemployment numbers tomorrow. No updates until indicators show something, don't want to mislead...
I was right yesterday about the premarket pump despite the unemployment numbers, I bailed early because I'm always skeptical when the market pumps bad news. Anyways, RSI went oversold again indicating that this is a melt down (opposite of how it usually melts up). I do NOT recommend going long today because CPE numbers will suck premarket tomorrow. ES broke my...
Just so you guys know why I'm feeling bearish, I was watching GM all day after bailing on my calls yesterday. Appears GM is in range bound trading. So basically my GM oscillator is at the top and needs to cycle down to the bottom at which point I'll turn bullish again. Probably coincides with SPX/NDX getting oversold on the daily. Wish I had bought puts this...
Fed whipsaw. Market selling off but futures are already oversold so whipsawing a lot. MFI is rising, and gap direction tomorrow will depends on unemployment numbers. Took a loss and bailed out of my long positions, shorting TUR because US market is already oversold. The way I see it, I;ve got 23 days for Turkey to tank again. I'm surprised the market tanked TBH.
ALgos are trying to pump it from oversold on MFI and RSI but the Euros are actually selling for once, lol. Fed meeting minutes at 2pm, unemployment number tomorrow and CPE Friday. As I said yesterday, not feeling bullish enough to go long. I did close out the last of my puts this morning, stupid LI.... went green yesterday so waited an extra day. My guess for...
You can look at this as a H&S or a pennant reversal, either way it looks like it's headed down next week. US market looks pretty bullish but China always does its own thing. Be careful because they trade Monday.
Both RSI and MI oversold, flipped my day trade puts. Could go further oversold, the market does that on Fed news, this reminds me of mid-Dec drop, so not going long until after the minutes come out tomorrow. You should be locking in some profits if you're short.
Oversold on RSI and MFI but the market doesn't seem to care. Fed minutes tomorrow, if ES breaks that blue line then it's toast. I've decided not to try to play a bounce even though my indicators are oversold. Market has gapped down 5 days in a row, I'll wait for it to show some life, lol.
Unfortunately this website won't go past 20 years for 30Y yields, so I'm posting 10Y Anyways, the notion that the Fed is done at 5% is pure fallacy. We're seeing inflation we haven't seen since the 80's, and a lot of it is structural. Aside from labor shortage and Russian oil, we have way too much deficit spending by the government and the Fed balance sheet...
RSI touched oversold earlier this morning when I woke up, and it's basically sitting at my first target. Even if the market tanks next week, I think today is gonna be a dip then up day. Could be a fake reversal though, we saw that a lot last year. NQ lost the channel, but probably will backtest it. BTC is in no man's land, but all of the other cryptos are at...
ES1! is oversold on my futures 3hr chart both on RSI and MFI, but there's a chance this drop can go much further like teh previous drops. Decided to be cautious and not play a bounce yet, even though I expect one. I think Asia takes futures red tonight then maybe the Euros turn it green because they've got money flying out of their butts for some reason.
Looks like the algos are still at work. Should have stuck to my original gameplan of going long when TLT hit support. you can see MFI bounced when it hit oversold. Note it can still double dip into oversold because RSI never hit oversold. Funny thing is, small caps have sold off every time it goes green. That and I made money shorting TLT this week so having...
Indicators are close but not quite oversold. So a little more down room then probably a reversal Monday.
I've been saying all week that TLT needs to go below $100, pretty obvious looking at the chart. I'm assuming a bounce at "support", but if the Fed keeps talking about .50 in March then it could blow right through it. Bond traders are about to lose all of their profit for the calendar year..... You'd think they would use trailing stops.... maybe not I dunno, I...
AAPL indicators trending bearish. AAPL still has the Powell pump gap that hasn't filled. We know his "disinflation" speech was all BS, he's the village idiot trying to pump the market for his Wall Street buddies, he showed up to the last speech holding hands with his former investment bank boss. AAPL is the market, so I'm leaning bearish until this gap fills. ...
PPI higher than expected, futures down. Obviously good news for someone that shorted TLT. MFI is now overbought, so I'm not sure that we get a repeat of yesterday. It might just stay red today. RTY and NQ look the same, only difference is that NQ hit overbought AH yesterday on RSI. I posted an overlay of Xmas as a joke, lol. More whipsaw as I been saying...