ES1 Projection for next week
So I expected weakness today since it's quad witching, funny how they waited until the afternoon to dump everything. The size of the movement is exactly the same as the post Fed pump, except in the opposite direction.
Bearish for next week, though I'm expecting a bounce Tuesday. One of the things to note is that the computers actually dumped futures at close. They've been buying futures at close for the past 4 weeks, looks like they're going to turn the pumps for a few days. Definite potential for pumptardedness later in the week on trade talks or some other BS.
Watch the indicators on futures, remember this is all futures pump and dump. Euros were pumping futures all week, I suppose that's what you do with negative interest rates. RSI and MFI are getting close to oversold on 3 hr chart. As you guys know, the 3 hr chart has been pretty reliable since I started posting them.
Bearish for next week, though I'm expecting a bounce Tuesday. One of the things to note is that the computers actually dumped futures at close. They've been buying futures at close for the past 4 weeks, looks like they're going to turn the pumps for a few days. Definite potential for pumptardedness later in the week on trade talks or some other BS.
Watch the indicators on futures, remember this is all futures pump and dump. Euros were pumping futures all week, I suppose that's what you do with negative interest rates. RSI and MFI are getting close to oversold on 3 hr chart. As you guys know, the 3 hr chart has been pretty reliable since I started posting them.
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Futures gapped up, remember all futures gap fill by law.
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Strange end of day sell off probably means another whipsaw day tomorrow.
Pump algo does not seem to be running yet, so possibly a down day tomorrow.
Pump algo does not seem to be running yet, so possibly a down day tomorrow.
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So much for that idea, 9 pt pump already on China trade "news", lol.
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Turns out that was an end of day headfake, up 15 pts now.
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Holy cow, looks like I was a day off. 3 hr futures chart now approaching oversold with positive MFI divergence, this is a futures dump as I predicted last week. Nice little headfake this morning. Market once again using Trump as an excuse to dump.
Best guess right now is that the market more or less ends the day around here, gaps down tomorrow, and reverses since it'll be oversold.
Best guess right now is that the market more or less ends the day around here, gaps down tomorrow, and reverses since it'll be oversold.
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Despite the late day pump, still expecting a small (5 pts?) gap down tomorrow as I expect Europe to sell of tomorrow morning.
No reason for computers to pump futures until they buy back in first.
No reason for computers to pump futures until they buy back in first.
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It actually hit my target today