MFI is getting close to oversold. Something to keep an eye on.... probably hits oversold before open tomorrow. FDAX MFI is overbought, so I wouldn't want to hold a long position overnight.
Still bearish on small caps because of retail sales numbers Friday. Maybe we get a counter rotation from small caps to tech. So much whipsaw, lol.
Still bearish on small caps because of retail sales numbers Friday. Maybe we get a counter rotation from small caps to tech. So much whipsaw, lol.
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There will be no new news in the Fed minutes, yet the market will move big anyways. Whipsaw in 6 minutes.
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Good summary on the Fed Minutes:
www.forexlive.com/ce...-unchanged-20230412/
Fed forecasting a mild recession, market trying to pump it anyways, lol. EOD action might be more focused on unemployment numbers tomorrow.
www.forexlive.com/ce...-unchanged-20230412/
Fed forecasting a mild recession, market trying to pump it anyways, lol. EOD action might be more focused on unemployment numbers tomorrow.
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REally odd, usually the market tanks the moment the Fed says recession, lol.
Went lightly into some puts
Went lightly into some puts
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Well we got a drop, only about half of what I expected. I guess everyone's ignoring the village idiot Powell, lol.
ES and NQ MFI now touching oversold, dumped my puts. Gonna stay cash in this stupid whipsaw market.
ES and NQ MFI now touching oversold, dumped my puts. Gonna stay cash in this stupid whipsaw market.
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Higher unemployment claims is good for the economy, lol. Everything rallying because MFI went oversold.
I'm staying out and buying XRT puts EOD to play the retail numbers tomorrow.
I'm staying out and buying XRT puts EOD to play the retail numbers tomorrow.
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Such a strange market, even during a bull market higher unemployment usually tanks the market. this looks like an algo pump with no follow through by retail investors.
Regardless retail numbers will suck tomorrow, bought some XRT puts for next week while it was green
Regardless retail numbers will suck tomorrow, bought some XRT puts for next week while it was green