ES Update

8 thg 12, 2020

MFi dropped quite a bit but lots of dip buyers. Appears to be support at the old resistance, which makes sense.

Waiting for MFI to go oversold before buying calls. Probably tomorrow. I think the market whipsaws today, staying out. Cashed out my puts on open.
Stocks a re a mixed bag right now, I think it;s gonna be tough to make money with options today.

8 thg 12, 2020

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MFI got below 50 then went right back up, didn't even get to oversold.... more like barely sold, lol.

My chart says sideways whipsaw for a couple of weeks anyways then a Xmas rally.

Hard to make money with options on a slow melt up, staying cash.

8 thg 12, 2020

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Appears market has regained the pink channel, everything looks bullish. Guessing tomorrow is an up day as ES breaks that light blue resistance line.

Staying cash and taking tomorrow off to go duck hunting. Not chasing this rally/
Good luck.

8 thg 12, 2020

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Japan up, futures up, China probably goes up and so does Europe, lol. Maybe I should've bought calls, but taking the day off tomorrow. No update until EOD.

Good luck.

9 thg 12, 2020

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I'm sure I'm not the only one looking at indicators, the pump kinda stalled when ES RSI went overbought, only up 6 pts

Nikkei up .8% but China isn;t up much. Up to the Euros to take it any higher