NQ UpdateWell, I went to lunch thinking the market wasn't gonna do much more and then it tanked, lol. I don't think it was the algos selling off today, I think it was actual stock selling. NQ MFI barely moved.
Powell keeps crushing the market, so I think the market is toast. Doesn't mean you can make money off of puts every day. Wish I was paying attention though because I definitely would have short bitcoin or GM as I mentioned earlier, lol.
Be careful going long on anything for a while. I really wouldn't hold a long position overnight now.
NQ UpdateNot really tracking any overlay I can find. I expect it to drift sideways then pop, but it could just melt up.
I don't see an opportunity to short until it hits the pink line. The only thing you can do here is daytrade based on expected direction, I flipped some calls today. Probably not trading tomorrow.
NQ Not overbought yetCouple people asked me why I didn't short something if ES and RTY are overbought...
NQ isn't overbought yet... so I'll wait. I don't think the market drops until we see NQ hit overbought.
Not expecting a tank, but I do expect a dip on Thursday (maybe tomorrow?) on profit taking,