ES still overbought

2 בדצמ׳ 2020

It got rid of the overbought condition on the initial dump and went right back.

Not chasing this market. Could dump again at any time.

The key to trading a melt up is to wait until MFI gets oversold then go heavy on calls. All cash. Hard to short a melt up. BTFD, lol.

2 בדצמ׳ 2020

הערה

Generally speaking, if the US market goes into a melt up and I feel bearish, I look towards foreign indices to short.

Brazil appears to have turned around hard, could be a failed breakout.

Also, Korea and Japan are WAAAY overdone, looking at shorting next week.

2 בדצמ׳ 2020

הערה

That 9:54 failed pump was a huge futures buy. Not sure what the algos are doing buying when MFI is overbought, not typical behavior

2 בדצמ׳ 2020

הערה

Note: I'm on Pacific time....

3 בדצמ׳ 2020

הערה

Apparently a stimulus pump as Pelosi/Schumer tries to sell Mitch their 900B package. If Mitch plays hardball, the market will get a nice drop.

If teh package goes through, expect a pump and dump.

3 בדצמ׳ 2020

הערה

Chinese market pumping, so that explains who was buying futures EOD.