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...
Posting for a follower who asked. Now the question is.... is NDX diverging or is it going to catch up to TLT?
Everything trending bearish including indicators. Might jus go sideways because I see quite a few things green, and dip buyers are buying right off the open. Could be one of these deals where futures sell off and the market buys stocks... Sitting out until one of my indicators goes oversold.
Everything whipsawing, futures and indicators. Still no clarity in the market though NQ RSI is almost overbought with MFI divergence. I should have taken my own advice, when the market gets stupid, you have to think stupid. BTC and garbage stocks up big today, lol. Heck if you want stupid, there's always ARKK as well, Cathie is as stupid as you can...
Indicators are neutral, market can go either way. Highlighted similar situation at the same price level, notice it went down in June but up in August. Tough market to predict, we haven't seen this type of inflation since the 70's & 80's, and even the big boys don't seem to be on the same page anymore. Might sit out for a few days. Don't be too surprised if you...
I day traded the gap fill yesterday, so gap fills are still a valid play, but I'm bearish on PCAR because it always seems to be weak after Q4 earnings. The market is "selling the news" on the stock split as well. I overlayed the 2022 chart to show expected pattern, it won't be exactly the same but I plan to do only short term trades (day trade or 2 days) until summer.
Indicators are actually neutral and we got a big whipsaw going. FDAX indicators also neutral. Between my BITO puts and getting whipsawed today, I lost a grand. Not a big deal since I made money last week, but never a good idea to trade when you're frustrated. Besides, I have no idea what's gonna happen tomorrow. Crazy market. BTFD, I guess. Seems like every...
Really strange market, the yield inversion continues to grow. This site actually allows price calculations, this is 10Y yield minus 2Y yield. Stock market still acting bullish, but I'm not feeling it.
Wow, that was weird, lol. NQ MFI went overbought premarket, they tried to pump bad news, sold it off, and now the market is pumping it anyways, lol. What an insane market. I figured something was wrong when BITO went green so I dumped my puts at a loss, could easily have regained my loss if I had bought BITO calls, oh well. Very obvious at this point that the...