MFI keeps bouncing off oversold then going back down. Not a behaviour that I've seen before, it's almost like an upside down melt up.... which would mean a melt down?
Inflation numbers higher than expected (which isn't a surprise if you've done any shopping or filled your gas tank), so market not gaining any traction. $SPX MFI oversold on the hourly but not my 2 hr (which I prefer).
Europe very bullish which is why the market gapped up despite the bad inflation news, DAX up .82% still.
WHat's my call? It probably does the same thing it's been doing for the past 5 trading days, another gap up then drop tomorrow, lol. (I'm half serious I think). Every day is a pump and dump, probably the easy trade will be fading the gap again.
Inflation numbers higher than expected (which isn't a surprise if you've done any shopping or filled your gas tank), so market not gaining any traction. $SPX MFI oversold on the hourly but not my 2 hr (which I prefer).
Europe very bullish which is why the market gapped up despite the bad inflation news, DAX up .82% still.
WHat's my call? It probably does the same thing it's been doing for the past 5 trading days, another gap up then drop tomorrow, lol. (I'm half serious I think). Every day is a pump and dump, probably the easy trade will be fading the gap again.
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Fed meeting minutes indicate taper in NOv or Dec, I thought we already knew that, lol.
Whipsaw finish, assume a gap up and drop tomorrow because that appears to be what it does every day now, lol.
The algos will force a gap up like today because that's how they make their money. Pump on low volume, dump on high volume. I bet the market gaps up regardless of what futures do overnight. Such a scam....
Whipsaw finish, assume a gap up and drop tomorrow because that appears to be what it does every day now, lol.
The algos will force a gap up like today because that's how they make their money. Pump on low volume, dump on high volume. I bet the market gaps up regardless of what futures do overnight. Such a scam....
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MFI no longer oversold, so it can gap in either direction.
One thing though is that the algos always make their money, so I expect a premarket pump, lol.
One thing though is that the algos always make their money, so I expect a premarket pump, lol.
That's all I gotta say.