Algos working in reverse
I'm so accustomed to the algos pumping futures, I didn't even realize what's going on here. A wise man once told me, sometimes you have to look at the charts upside down.
The algos are doing a melt DOWN, which explains why it keeps hugging the oversold condition. Normally the algos hug the overbought condition.
No doubt this is because of rising rates, but in any case, an oversold condition is no longer a reason to buy NQ.... for the time being.
The algos are doing a melt DOWN, which explains why it keeps hugging the oversold condition. Normally the algos hug the overbought condition.
No doubt this is because of rising rates, but in any case, an oversold condition is no longer a reason to buy NQ.... for the time being.
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