RTY Update
RTY MFI almost overbought
My general rule is 3 days for a short squeeze, but I may be looking at puts if RTY MFI gets overbought tomorrow. Might do next week's puts to be safe, Fed meeting and what not. Not to mention I doubt anyone wants a long position over the weekend.
My general rule is 3 days for a short squeeze, but I may be looking at puts if RTY MFI gets overbought tomorrow. Might do next week's puts to be safe, Fed meeting and what not. Not to mention I doubt anyone wants a long position over the weekend.
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LOL, pump failure
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MFI is still near overbought, it's gonna be a long ways down when the algos hit the sell button, obviously no liquidity at all.
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The market is probably gonna gap up tomorrow and Thu because FDAX went oversold and is moving back up. Keep in mind gap direction does not dictate market direction for the rest of the day.
More whipsaw coming for sure, Europe and Asia have bottomed out to pre-COVID levels, but the US indices have not. I don't expect a big gap down unless Putin does something really crazy, it's hard to top what he's already done so far.
More whipsaw coming for sure, Europe and Asia have bottomed out to pre-COVID levels, but the US indices have not. I don't expect a big gap down unless Putin does something really crazy, it's hard to top what he's already done so far.