Daily RSI hit oversold yesterday on teh Israel bomb drop, RSI not longer oversold on 3hr because of the rebound. MFI still oversold. Probably a whipsaw day because of NFLX earnings. Gonna opt to just sit out until Monday, and figure it out then
RSI hit oversold, MFI buried in oversold territory. If it wasn't for he situation in the middle east, I'd go long right now. I just don't care to hold a long position overnight, the probability of an Israeli attack increases daily. Plus I figure they'll attack on Friday (Muslim holy day) since Iran attacked on Saturday (Jewish holy day). Also, NFLX earnings AH today
Much like ES, NQ daily is not oversold yet. Everything says wait until next week. NFLX beat, but guidance wasn't all that great. Red AH.
I don't like the fact that the market didn't bounce with MFI oversold on my 3 hr chart, so at this point, I'm inclined to wait until the daily indicators go oversold before buying the dip. Why give away your profits for the year? Makes more sense to be cautious. Gonna sit back and watch Iran and Israel do their thing.
Not sure if it matters but NQ MFI went oversold. Probably just gonna close my puts on open for a small gain and stay cash. Not going long until daily indicators go oversold on ES1!
Not oversold yet, if you're looking to play the bounce, I suggest waiting until next week. I anticipate an Israeli attack before Monday anyways.
WTF was that? 15 minute pump, 15 minute dump. Talk about a bull trap. I don't recommend going long until after Israel bombs Iran, that should cause the daily to go oversold. Look to play the bounce a day or two after it happens. Note: 15 min chart, ignore the indicators, they just show up because of my template
Well, I posted last night that I wasn't gonna trade. Expecting a bounce tomorrow, but probably too small to make it wort teh risk. If a market can melt up, it can melt down as well. My advice is to just stay cash and take a break.
All 3 indicators are oversold, but quite frankly I'm not very bullish. I'd rather short the pumps at this point. Probably not trading tomorrow. My best guess is that Israel will attack on April 26th, because it's my birthday, lol.
ES hit the bottom trendline, but like I said last week, I'm not going long until both RSI and MFI hit oversold. Quit frankly I'm scared to hold any long position overnight, so probably just gonna day trade tomorrow if it does go oversold. I didn't post this morning because I wasn't quite sure what the market was gonna do, MFI hit oversold premarket, but the...
The sideways drift continues, lol. Only gonna go long when RSI and MFI hit oversold, we're not there yet
Boy the market is moving fast. RSI already hit oversold. Closed out my puts, going all cash for the weekend. If Iran doesn't do anything, we'll probably see another pump Monday, lol. Crazy whipsaw market, pay attention to the channel I drew (unless Iran actually does something)
Rapidly approaching oversold, lol. Really odd market though, gold and oil gave up the morning pump, it;s like everyone's just going cash, bonds are up. Also, PCAR got the gap fill despite the market, didn't play it because I didn't think the risk was worth a buck movement.
Crap. Reversed at the top channel line and MFI is now overbought. Rumor is Iran is supposed to start shit this weekend, Europe went up then sold off.
Looks to me like it wants to hit overbought, probably tomorrow
Looks to me like it;s headed up for a day at least. PPI numbers were good. Remember how I said yesterday that it'll be a much easier trade if teh market gaps down? The gap up sold off then the market bounced back. FDAX is oversold so went long but cashing out tomorrow.
FDAX hit oversold on the morning dump Probably an up day for Ponzi Friday
I might play the bounce if we get a big gap down tomorrow with my 3hr chart going oversold, but I think the next big bounce doesn't happen until the daily indicators go oversold. If you like to play it safe, and you don't watch the market on a daily basis, I suggest waiting a couple of weeks, maybe 3. CPE numbers don't come out until April 26th, which happens to...