ES1 I SPY Futures Wedgie
Appears futures have a wedgie going, I thought the reversal was this morning, but obviously the algos are still pumping futures based on the steady buying, despite being overbought.
Possibility that we test ATH tomorrow. I expect a rejection the first time, but who knows? Negative interest rates in Europe, so they might as well pump the US market with their money. Of course the big boys can hit the sell button at anytime...
Not going to play the indices with this pumptardedness, I think the best bets are stock pre and post earnings. Expecting a lot of stocks to tank on crappy earnings, this market pump doesn't change reality.
Possibility that we test ATH tomorrow. I expect a rejection the first time, but who knows? Negative interest rates in Europe, so they might as well pump the US market with their money. Of course the big boys can hit the sell button at anytime...
Not going to play the indices with this pumptardedness, I think the best bets are stock pre and post earnings. Expecting a lot of stocks to tank on crappy earnings, this market pump doesn't change reality.
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Not really sure where this is going, no plays for tomorrow, holding a few out of money OXM puts I bought with some of my profits and that's it.
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I think it's just gonna waffle sideways tomorrow, just like the last 2 Fridays. My indicators are bearish, showing overbought on RSI with MFI divergence on 2hr SPX and 3 hr ES1 charts.
No indication of which way it will gap tomorrow.
No indication of which way it will gap tomorrow.
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Afternoon drop was caused by futures dumping. Really odd to see them dump in the afternoon, but I guess the ECB meeting caused a huge buy in the morning when I would have normally expected a dump.
With rates already negative, ECB is turning to QE again, lol. How long will they keep up the charade before just letting the market do what it needs to do?
With rates already negative, ECB is turning to QE again, lol. How long will they keep up the charade before just letting the market do what it needs to do?
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Totally forgot, retail sales numbers come out pre-market tomorrow. Don't bother looking at futures overnight, it'll all change at 8:30.
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Might still hit that upper trendline, futures pumping again. The computers have to pump it to make their money since they bought this morning.
Good chance we'll hit ATH unless retail numbers suck bad...
Good chance we'll hit ATH unless retail numbers suck bad...
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As you can see in the chart, algos now selling as the market buys into the pump and dump.
I see lots of buying in stocks, so there probably won't be a tank, just sideways as the algos make their profit.
Remember, the computers always win. The algos control enough money to control the market.
I see lots of buying in stocks, so there probably won't be a tank, just sideways as the algos make their profit.
Remember, the computers always win. The algos control enough money to control the market.