ES1! SPX Futures Update - more wedgies for everyone
So I cleaned up the charts a bit. We got a pop as expected due to the positive divergence, and we broke one trendline, but there's another one above (dash lines). Not sure which one is the true wedge, the dash line appears to be creating some resistance.
Assuming the solid line is the wedge, I drew up the wedge breakout target. Seems lately that the market likes wedgies as much as I do.
Note: Chinese market is up big, but it may be a wave 4 in which case wave 5 happens Monday. I just don't see a deal happening, but who knows...
Assuming the solid line is the wedge, I drew up the wedge breakout target. Seems lately that the market likes wedgies as much as I do.
Note: Chinese market is up big, but it may be a wave 4 in which case wave 5 happens Monday. I just don't see a deal happening, but who knows...
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Chinese market rally over, futures whipsawing again. Even the computerz don't know which way to go....
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So they kicked the can to tomorrow, talks to continue. Compuerz not happy, futurez in the red again, whipsawing like crazy.
I think I've seen enough, not gonna hold anything over the weekend. Market will crash if they don't get a deal done by Monday, the way the computerz are acting. Not sure indicators matter much. A little odd considering how they completely ignored tariff news last year.
I think I've seen enough, not gonna hold anything over the weekend. Market will crash if they don't get a deal done by Monday, the way the computerz are acting. Not sure indicators matter much. A little odd considering how they completely ignored tariff news last year.
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LOL, more whipsaw. Futures now flat, which makes sense since they kicked the can to tomorrow. Not sure how the Asian computerz make any money, seems like they always sell and the Euro computerz buy at a discount.
Time to get some sleep. Let's see if Pumpkin face says anything stupid tomorrow.
Time to get some sleep. Let's see if Pumpkin face says anything stupid tomorrow.
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More whipsaw as futures dropped while I was sleeping, decided to close all of my positions this morning. No point in trying to swim against the tide. Even good earnings mean nothing when the market is tanking.
With the VIX up, put options are expensive, otherwise I'd short the crap out of the market. There won't be a deal, the Chinese keep playing games, they have no intent on caving in. Trump will probably blow his lid and go 25% on everything. Expecting a 30 - 40 pt gap down on Monday.
All cash again.
With the VIX up, put options are expensive, otherwise I'd short the crap out of the market. There won't be a deal, the Chinese keep playing games, they have no intent on caving in. Trump will probably blow his lid and go 25% on everything. Expecting a 30 - 40 pt gap down on Monday.
All cash again.