A much bigger pump than I expected when MFI got oversold, now it looks like RSI will go overbought by the EOD tomorrow setting up an MFI divergence.
I said whipsaw week..... stay nimble, don't over commit to one direction.
I said whipsaw week..... stay nimble, don't over commit to one direction.
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Retail still looks weak, the only red sector today on my board
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Even retail rebounding, I think that's the sector to short tomorrow when the market gaps up. Retail can't rally without the market, the fundamentals suck with rising labor costs, that is if they can find anyone that wants to work, lol.
Hard to believe the market is still pumping when nobody wants to work.
Hard to believe the market is still pumping when nobody wants to work.
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Retail dropped as soon as the algos stopped pumping futures, lol.
Someone asked me on my previous post what I mean by whipsaw. Well here it is, down, up, down and no direction. Probably better to be bearish on something like retail than try to do short term trades. Retail will go down....
Someone asked me on my previous post what I mean by whipsaw. Well here it is, down, up, down and no direction. Probably better to be bearish on something like retail than try to do short term trades. Retail will go down....
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Wow, talk about a bull trap... did not see that coming, though I did buy some ROST puts earlier today. Of course you could have bought puts in just about anything mid morning and be up right now.