We got a nice rejection of the Daily sell zone. Looking for continuation to 1745 and then ultimately 1700. Entry Price - 1774 Stop loss - 1800 (I would like to see a strong close above 1800 level. First Target - 1745 Final Target - 1700 Please share your views. Thank you
Not oversold yet, not going long today though pretty high possibility of the usual Friday pump and dump tomorrow. Will wait until my indicators say to buy. I think the selloff ended for the day because a lot of stocks hit support (see GM for example), but I'm not sure if that holds. Looks like all I'm gonna make is beer money this week, but at least I didn't...
RSI isn't there yet, but ES & NQ already hit overbought on both. I don't expect the market to tank, probably just a dip. Bought a few AFRM puts for kicks and giggles this morning, see if it breaks support tomorrow. Hoping the algos start cycling again now that earnings are over (except AAPL), buy the dip when MFI goes oversold.
Still the weakest index, RSI is already oversold. RTY indicators are the least reliable, not going long yet.
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Based on private indicator, Price may revisit this area in future
MFI dropping fast, but RTY barely even dipped. There's a weird short squeeze on garbage stocks today. AFRM, PTON, BYND, TSLA (lol) all green by a lot. No trades, but I'm hoping for the market to tank so we finally get some tradable action. Note: Some of the garbage stocks appear to have rolled over, might be a play there.
Just drifting sideways, indicators are neutral. I think MFI goes oversold tomorrow morning on RTY and ES, will wait until then to BTFD, lol. I think it's gonna be a whipsaw day. Futures need to sell off but lots of dip buyers already. Slept in (kinda obvious now, lol) because I was all cash, no positions. Will take a potshot at the market again tomorrow if...
RSI hit overbought and stalled, MFI is overbought. Appears to be a rotation from small cap to tech, took the easy money and dumped my long positions
RTY MFI is overbought as is YM, but all other indices including ES, NQ, FDAX, and GC1! (gold) are all neutral. Not getting the pre-CPI pump I expected so far. Might just sit this week out, not feeling all that well. Don't need the heartburn, lol.
In this update we review the recent price action in the #Russell200 emini futures contract and identify the next high probability trading opportunity and price objectives to target
No idea what the other indices are doing, looks like a melt up on ES and NQ because MFI is dropping while RSI is rising. RTY is oversold, and PTON is up so it means short squeeze time, lol. Small long position, don't need the heartburn.
Appears to be a complete pump and dump failure. I got bullish because of the buy volume the past couple of days, but it hit overbought on MFI and now is dropping. i think there's potential for it to stay oversold for a day or two when it gets there because it's dropping on much lower volume. Those that bought have to sell, and volume isn;t matching up yet.
IN this update we review the recent price action in the Russell2000 emini futures contract and identify a high probability trading pattern and price objectives to target
RSI oversold again, but I wouldn't consider going long until ES and NQ also go oversold. ES MFI has a LONG way to go before it hits oversold. Plus the market gave up on the short squeeze and lost all interest in garbage stocks. PTON down 7% now. Friday is when funds rebalance their portfolios, and I'd imagine they'd want to get rid of garbage stocks and move...
RSI hit oversold, MFI has stayed oversold. No idea about gap direction tomorrow, but I'm sure this throws a reversal pattern.
Not at all what I expected today, small caps leading the market down. I don't recommend a long position until RTY goes oversold. Asia and Europe usually don't pump small caps, so it's probably toast this week. Chart pattern is extremely bearish.
In this update we review the recent price action in the Russell2000 futures contract and identify the next high probability trading opportunity and price objectives to target