NQ Update 8/13
Updated
MFI touched overbought so I dumped my ULTA calls for a decent 1/2 day return. ES MFI also went overbought.
Realigned the overlay, appears to be flat the rest of the day. Feeling a bit bearish but overlay indicates a Euro pump tonight because it's Friday tomorrow, lol. They'll pump futures to get past his double top. That's what always happens.
I think they pump the Nasdaq with SaaS stocks instead of FAANG stocks, SaaS needs a bounce.
New ATH in the middle of a recession and worldwide pandemic? Sure why not, we have zero interest rate.
Realigned the overlay, appears to be flat the rest of the day. Feeling a bit bearish but overlay indicates a Euro pump tonight because it's Friday tomorrow, lol. They'll pump futures to get past his double top. That's what always happens.
I think they pump the Nasdaq with SaaS stocks instead of FAANG stocks, SaaS needs a bounce.
New ATH in the middle of a recession and worldwide pandemic? Sure why not, we have zero interest rate.
Note
Expecting weakness in the afternoon, but still holding FTNT calls and bought some BOXL for earnings. Heck, I've bought options more expensive than BOXL stock, and it won't go to zero like options, lol.Note
Very hard rejection off the double top....Note
Dumped BOXL premarket for some decent beer money.Order cancelled
Sector rotation out of SaaS and tech in general seems to be continuing on 401k Friday.Good chance this drifts sideways while Dow and small caps play catch up to fill the COVID gap. Will be tracking DJI and dividend stocks for the next week or two.
Note
Did not follow my overlay but it did bounce off my trendline...
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