Hey guys, gonna mix a little and try to share some index ideas. Not sure if I'm gonna post it everyday, yesterday just didn't have time to post bond ideas haha but I want to share and hear opinions/suggestions from you. I'm very short biased because we failed 2 times to seek value higher. if overnight balances below 9378 I'm looking for a pullback at cash. Entry,...
ECB pumped the Euro market this morning with more stimulus talk, they're meeting next week. In any case, NQ is oversold but FDAX is selling off from an overbought condition, which more than likely means it gaps down tomorrow then goes up or something along those lines. Took the liberty of overlaying the last drop. I said yesterday that I expected a drop this...
Probably should have plotted this instead of ES1 this morning. NQ sold off the overbought condition, indicators are neutral now. Hit the trendline, could go either way.
SPX500 continues its rally in pre-market trading reaching $3009 level. The index is overbought on 4 Hr chart, with Daily chart showing little movement. A pullback may be needed to keep it going higher. We may expect a double top formation on 4 Hr chart before RSI correction into 30 territory. RSI momentum is pointing toward higher prices (near-term). Chande...
MFI went oversold so it'll probably bounce up over the weekend. Looks pretty weak right now obviously, so if you're bullish, just wait until EOD. In case you're wondering why I keep drawing these channels.... the bottom line represents oversold, top line overbought. Notice how it hit my bottom trendline at the same time it went oversold... Took the week off, I...
NQ finally closed the gap and hit upper resistance of the trendline. Bulls expecting new highs are going to be very very disappointed. SELL NQ targeting new lows!
I'm all cash so I slept in a bit. Kinda funny, I drew up this plot yesterday and it bounced off the line so I figure I'd share it. The rally is over if it falls below the bottom trendline. I'm guessing we'll find out for sure on Monday, I bet the market throws a doji today. I said yesterday that something didn't seem right and stayed out.... glad I did, MU,...
A few bearish signs starting to show up: - Largest sell volume sign the Feb/Mar tank - MFI double dipped into oversold territory - MFI and RSI went oversold today but futures can't gain any traction at all If the market gaps down tomorrow, it'll be the first time my indicators have failed me since the bottom. That would indicate that the market has topped,...
Might be getting ready to roll over from here. I'm expecting a big pullback. Good luck and trade at your own risk
Just wanted to point out hat MFI is oversold on bot ES and NQ, bailing out of my puts on open, because that's what my indicators say. So this could be a H&S pattern and MFI could go further into oversold, or we can bounce here... either way indicators say buy calls at EOD... will decide depending on how the charts look. Not gonna chart NQ since indicators look the same.
Online/tech businesses have fared better than brick/mortar but the spread between the Nasdaq and SP500 indices has overextended and rejected off a long term trend line. Recommend short NQ futures and long ES futures contracts in equal number.
QUite the afternoon tank... Quickly approaching oversold, I don't expect the market to collapse, there should be a bounce when it gets oversold. Watch RSI and MFI, when they get oversold, I'm flipping my puts and buying calls.
If one of these two scenarios do not happen, I quit TA for good because it clearly doesn't work anymore in a post sanity, Fed controlled world. - resistance line does holds - a slight pop over resistance to trap bulls, then price falls in again hard Oh and also, if today 11MAY closes up on the day, it'll be NQ's 6th day up in a row. Although I suppose, the...
4H Chart Explanation: - Price bounced on the Support Zone and returned to the Weekly Ascending Trendline. - After that, it broke the Descending Trendline and went towards our main target on the ATH Zone. - Now, we are waiting price to bounce or break so as to look for long or short setups. Weekly Vision: Daily Vision: Updates coming soon!
NQ looks a bit more bearish than ES, looks to me like it wants to drop, I pointed that out Friday... Remember not to get too bearish, it'll pop again when MFI gets oversold. No position.
I'm not going to pretend to know what's going to happen to stocks...in Dollars terms at least. I'm also concerned about a spike higher in real rates due to deflation. That said, I believe the long-term reward in being short stocks in gold terms is massive. Keep your leverage under control and add to the trade over time.