The sideways drift continues, lol. Only gonna go long when RSI and MFI hit oversold, we're not there yet
Boy the market is moving fast. RSI already hit oversold. Closed out my puts, going all cash for the weekend. If Iran doesn't do anything, we'll probably see another pump Monday, lol. Crazy whipsaw market, pay attention to the channel I drew (unless Iran actually does something)
Rapidly approaching oversold, lol. Really odd market though, gold and oil gave up the morning pump, it;s like everyone's just going cash, bonds are up. Also, PCAR got the gap fill despite the market, didn't play it because I didn't think the risk was worth a buck movement.
Crap. Reversed at the top channel line and MFI is now overbought. Rumor is Iran is supposed to start shit this weekend, Europe went up then sold off.
Looks to me like it wants to hit overbought, probably tomorrow
Looks to me like it;s headed up for a day at least. PPI numbers were good. Remember how I said yesterday that it'll be a much easier trade if teh market gaps down? The gap up sold off then the market bounced back. FDAX is oversold so went long but cashing out tomorrow.
FDAX hit oversold on the morning dump Probably an up day for Ponzi Friday
I might play the bounce if we get a big gap down tomorrow with my 3hr chart going oversold, but I think the next big bounce doesn't happen until the daily indicators go oversold. If you like to play it safe, and you don't watch the market on a daily basis, I suggest waiting a couple of weeks, maybe 3. CPE numbers don't come out until April 26th, which happens to...
Expecting indicators to go further oversold before a real bounce. You figure all the idiots that bought yesterday have to sell. Also, I'm convinced the drop last week was because the numbers leaked out. How hard is it to bribe govt statisticians? Was tempted to do a gap fill play on PCAR but will wait until tomorrow to go long.
If AAPL loses support, it's a long ways down. I assume a lot of people have stop loss in mind, if not an order already. AAPL is so heavily tied to the indices, the next down leg on NASDAQ:NDX and SP:SPX will cause it to drop below support. Could happen as soon as tomorrow.
Not actively trading but took a look for my followers. Indicators are not oversold yet, wait for one more drop if you plan to play the bounce. Be careful playing the dip though, AAPL could lose support and my favorite stock, PCAR, took a shit today.
A very distinct pennant formation on Bitcoin. Pennant patterns are more often continuation patterns, and not reversals, especially since there's not earnings report with crypto unlike stocks. Something to watch out for next couple of weeks,
Not sure about US market gap direction tomorrow, so looking at FDAX. Not oversold yet, so another Euro selloff could cause US markets to gap down tomorrow. Decided not to go long yet, probably tomorrow.
I talk about pump and dumps all the time, you can see that they did a low volume premarket pump and dumped on volume today. It's too bad my 3 hr indicator didn't hit overbought on the pump, I was waiting for tomorrow to buy puts, lol. It's funny how I said yesterday that I had no clue what was gonna happen today. Well, today would've been really hard to...
Wow, RSI hit oversold already. I couldn;t figure out what was gonna happen yesterday, and there's really no way to have predicted this, lol. We could see a bounce, but I'm not playing it. Staying cash.
Sorry, slept in and missed all the fun. Appears the algos are indeed doing the pump and dump regardless of intraday action. Why pump the market during the day when it's so much easier to do premarket on low volume? (Kinda reminds me of those meme stocks, lol) Not gonna short anything until it gets overbought on RSI which should happen tomorrow on Ponzi Friday....
RSI and MFI bounces as expected, chart pattern looks like a backtest than a rally. I cashed out earlier today, not sure which way the market gaps tomorrow, but I expect MFI to hit overbought so have an exit plan if you do short term trading.
RSI and MFI both hit oversold, flipped my puts. Didn't pick the best stocks to short so I made some money but not a lot. THought about going long but I'll wait until this afternoon. Got other stuff to do, plus I'm always a bit too early anyways, lol.