1) My apologies for getting the PCE release date wrong, it's Friday, not today. Still made money on my XLF calls plus AAPL also went up this morning.
2) There's a small open gap on ES, RTY, and YM from the one hour break after market close. It looks like it might fill overnight. Make sure you check tomorrow morning.
3) The gap below is still open, and it looks like 3hr MFI and RSI want to hit oversold tomorrow.
4) Sorry for not checking the news, I can barely even make trades on my phone while at work. Had I known today was auto tariff day, I would have played things differently.
Personally, I think PCE numbers are a moo point (my Friends will get the joke) because auto tariffs will drive inflation up, but there's bound to be a bounce when MFI and RSI get oversold. If I decide to go long tomorrow, it'll probably just be a handful of XLF calls again.
XLF will probably dip tomorrow because higher auto prices means fewer auto loans and higher inflation this summer. Market will still go up Friday if indicators get oversold, so it's just a quick play, not an investment.
At this point, all I can recommend is that you keep an eye on the 3 hr indicators, seems to be working well. Also, XLF and AAPL completed intraday patterns from yesterday, so there is that too.
2) There's a small open gap on ES, RTY, and YM from the one hour break after market close. It looks like it might fill overnight. Make sure you check tomorrow morning.
3) The gap below is still open, and it looks like 3hr MFI and RSI want to hit oversold tomorrow.
4) Sorry for not checking the news, I can barely even make trades on my phone while at work. Had I known today was auto tariff day, I would have played things differently.
Personally, I think PCE numbers are a moo point (my Friends will get the joke) because auto tariffs will drive inflation up, but there's bound to be a bounce when MFI and RSI get oversold. If I decide to go long tomorrow, it'll probably just be a handful of XLF calls again.
XLF will probably dip tomorrow because higher auto prices means fewer auto loans and higher inflation this summer. Market will still go up Friday if indicators get oversold, so it's just a quick play, not an investment.
At this point, all I can recommend is that you keep an eye on the 3 hr indicators, seems to be working well. Also, XLF and AAPL completed intraday patterns from yesterday, so there is that too.
Note
#2 Update: The down gap already filled.Which of course means that the only open gap is the one below. You guys can do what you want, but I am not going long until the gap below fills since I can't sit around and watch the market all day every day. I think it will fill tomorrow, but if not I will wait until it does.
Note
Futures now green, lol, more than likely because China is green right now. I will not be shorting anything either until indicators go overbought again.At this point, I will rely on my indicators for quick one day plays and that's it.
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Disclaimer
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.