Looks like they turned the algos on so here's the 3hr chart update.
Just because they turned the algos on doesn't mean good news for the bulls, ES MFI is almost overbought, I expect it to get there at market open. 7am right now.
So basically I'm expecting the market to fill the down gap then drop again.
Don;t expect any more updates today, I'm going to work now.
Just because they turned the algos on doesn't mean good news for the bulls, ES MFI is almost overbought, I expect it to get there at market open. 7am right now.
So basically I'm expecting the market to fill the down gap then drop again.
Don;t expect any more updates today, I'm going to work now.
Note
Appears the algos are pulling money from gold futures to pump index futures. Didn't realize that's how it worked until I got a chance to watch futures afterhours. Probably just gonna take my lumps and bail from my GLD calls tomorrow, and stay out of the market for a while. It's too tough to trade when you can;t watch the market all day.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.