ES MFI oversold

19 thg 11, 2020

Could stay oversold..... but I wouldn't count on it. Certainly looking like we'll get the usual Friday rally tomorrow.

Also, there's an open gap above from the Euro market open. And YM is also oversold.

19 thg 11, 2020

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If you look at the 5 min chart, you can see that was a quick profit taking double bottom by the EUros that bought this morning and dumped.

I warned everyone not to chase the drop..... flipped all of my puts on the drop.

19 thg 11, 2020

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Whipsaw day.... staying cash. Good luck

19 thg 11, 2020

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Remember, options expiration tomorrow.....

19 thg 11, 2020

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I just realized there's no gap above, investing.com had a website problem last night.

Probably EOD weakness then a gap up tomorrow thugh because that's what the market seems to do every Thursday/Friday

19 thg 11, 2020

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Note: No longer oversold.... but barely

19 thg 11, 2020

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OK, I didn't see that coming.... futures dropping AH. Not that I mind, I'm only carrying puts.