RTY Update

Updated

RSI hit oversold, MFI has stayed oversold.

No idea about gap direction tomorrow, but I'm sure this throws a reversal pattern.

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Market posted the same pattern as last Wed, gap direction depends on unemployment numbers. Possible gap up if numbers come in as expected or worse than expected.

Went long on PCAR this afternoon because I'm so bullish on it and it was coiling all day. Worst case I hold until earnings next month, lol. If the market gaps up tomorrow I don;t want to have to chase it. I think it breaks out....

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Note, both shitcoin and PTON went green. Probably another 3 day pump until CPI numbers Tuesday.

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Bounced almost as soon as I posted this, lol.

Algos are definitely on. You know it's a futures and index pump when EVERYTHING goes up at the same time.

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We're talking about .25 and .5% rate hikes this year, not a series of .75% hikes, so looking at last year's chart patterns is a bad idea. I'm gonna stick to short term trades using my indicators.

Algos are running, the bounce off the oversold RSI proves it.

Trade closed manually

PCAR got rejected by the resistance, so I bailed while still up a little.

MFI rapidly climbing probably goes overbought today or tomorrow morning.

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