It's tracking my overlay and appears to be headed into oversold territory.
I would expect a bounce even if it doesn't rally, but there's always a chance it can cascade and drop down to the next blue line.
For now I expect a gap down (or sideways) tomorrow and bounce.
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Looks like the Dow and Small cap rally needs a break, we could see rotation back into SaaS stocks, certainly on POnzi 401k payday Friday. COUP, my leading pumptardedness meter, is green
Would be pretty funny if NQ went green and everything else went red tomorrow.
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Keep an eye on AAPL, AAPL dictates the market direction.
Stuck in a pennant so it can go either way.
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Oh look, pretty arrows...
I'm sticking with the overlay, dip tomorrow and bounce back up. Holding FTNT calls for next week, but not playing anything overnight today.
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RSI now touching oversold. Not going long until tomorrow though.
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Hit oversold, not really sure which way it gaps tomorrow/ Gonna stya cash and sleep in.
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Pretty arrows, I actually nailed today's open with that red one.
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Dip tomorrow and pump on Ponzi Friday is what the overlay indicates, missed the FAANG stock pump today because I slept in. Thought the gap would fill anyways like the overlay indicated, but overlays are general trends not exact pattern duplication.
Remember, if you're trying to short the market, you;re shorting APPL, and crApple never goes down, lol.
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Small caps, financials, and transport look weak. I'm not gonna short anything with this FAANG stock pump, but if you put a gun to my head, I'd short those sectors.
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Possibly short a foreign index like EWZ (Brazil). I don;t think they have any FAANG stocks, lol.
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I think it dips tomorrow, but going with ULTA calls for the one day play.
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Dumped my ULTA calls because it looks like it's hung up at $220 and also because NQ and ES MFI touched overbought
@Nocturnidae, I would have been better off picking AAPL or TSLA, but at least I made some money.... flipped them because overlay showsNQ is not gonna bust the double top today.
DaddySawbucks
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same lol sleep in cash
hungry_hippo
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@DaddySawbucks, you would've hosed yourself trying to fade the gap anyways.
DaddySawbucks
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@hungry_hippo, I did buy september contracts and shorted dailies, rolled em thursday. gotta sell someday dammit!
hungry_hippo
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@DaddySawbucks, I just flipped ULTA calls for some money. Made a little money flipping calls this week, but still trying to catch up to my earnings mistakes. I gotta stick to what I know from now on instead of hoping for a big pay day.
DaddySawbucks
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@hungry_hippo, Indeed. Fade the Gap usually pays off, not this week. Gaps will fill soon IMO