So this time the market gapped up, lol by like 22 points so that's pretty big. My assumption here is that the market fills the upper gap RSI and/or MFI go overbought and it cycles back down before next Wed's tariff announcements. PCE gets announced Wed so not shorting anything before then even if MFI and RSI get overbought. Will post a comment when I see it go...
MFI bounced even though it did not quite hit oversold, so I bought some AAPL calls and QQQ ETF for my retirement account before the late afternoon pop. Market gapped down but held it's own the last 2 days, that makes me bullish for next week. Maybe the gap fill is still valid, we'll find out next week.
I guess no futures gap fill, ES should go oversold on the 3 hr Monday. Gonna wait to go long.
Well, I did mention the small open gap yesterday afternoon, lol. Looks like Europe sold off and took the US futures with them, MFI is now OVERBOUGHT meaning more downside despite the open gap above. The market is breaking a lot of my usual rules, the only time the market left an open futures gap for an extended time was the initial COVID gap which stayed open...
Remember this garbage? LOL, it reverse split at least a couple of times, so peak COVID price is much higher. With Trump in office, probably gonna go bankrupt.
Well, apparently you can't just rely on daily indicators and an open gap. All I did was lose money on premium burn with the calls I bought last week, but I added next week's XLF calls when the market opened and XLF went red for some stupid reason. Wound up dumping everything near the daily peak when I regained lost profits, so at least I'm even now, lol. What I...
US indices need to bust out of this down channel.... Rejected yesterday afternoon, and again this morning. We see what happens when the markets open.
Hey look, I'm back. TBH, I got a day job and took a break from day trading, but the Trump tank lured me back into the market the past month, lol. Bit of a rough restart the first week, but made $10k each of the past 3 weeks including today. I figured something like this was gonna happen today so I carried TSLA puts from Friday. As you can see, futures left an...
The last time daily indicators went this oversold on NQ is when the Fed raised rates. The market did bounce up though as you can see with the overlay. As I stated on the ES chart, futures left an open gap last night and I expect that to fill. Expecting a bounce soon, just not sure when, lol. I think it's safe to buy ETFs and stocks for the bounce, but be...
FDAX hit oversold on RSI and MFI, so if the algos are still running then we may see a gap up tomorrow (for US indices) despite the weakness this afternoon. I didn't carry any overnight positions so I'm hoping for a gap down, lol.
I've been preparing for a relocation, so haven't been trading. Looks to me like RSI is gonna hit oversold probably tomorrow, then a Friday bounce.
MFI overbought before Fed meeting minutes get released here in a few minutes.... I'm staying out. Movements are so small not everything is moving with the market. Too much guess work.
MFI went overbought, Fed minutes tomorrow Prob gonna just stay out this week
Looks like sideways chop, my board is a mixed bag Staying cash for now.
Heh, slept in today Anyways, MFI headed to oversold and all we get is a small dip. Chart seems to be pointing at going long on Monday, so I'll wait until Monday.
At this point you gotta figure the daily is gonna go overbought before this stupidity ends, lol. My 3hr indicators should go oversold Monday, guess I gotta go long.
Looks like toast, lol. I revised the bear flag target based on the pump last Friday. CAT got an earnings gap fill and is dropping now. The fact that PCAR didn't fill its earnings gap makes me very bearish, it's filled every gap since COVID. Feels like it's topped out.
CRazy... way overbought and looks like a melt up. Got stopped out of my puts for even money, but I made plenty on the CPI pump so I'm done for the week. Not gonna short anything on Ponzi Friday. I'm not into chasing an overbought market, see ya guys Monday.