ES MFI Overbought

Nov 3, 2020

MFI touched overbought and futures sold off a bit, you can see it with NQ...

I think NQ needs to go oversold before we get a real rally, but we are in the same spot where ES dipped in the last rally, so expect some more whipsaw either way, lol.

Nov 3, 2020

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Overnight chart pattern looks identical to yesterday.... big pump by the Euros on their market open

Nov 3, 2020

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AAPL already filled the gap and is moving up now....

Nov 3, 2020

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I dunno if this is a short covering rally or what, but market appears to be buying into the pump. Typically it means a weird EOD dip like last month or a pump and dump tomorrow morning.....

Elections tonight so staying all cash except 1k shares of SMSI I bought yesterday, figured it was at the same price as last earnings drop.... long term holding.

Nov 3, 2020

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Well, I said it would look weak in the afternoon. Not sure what happens from here though...

YM and RTY RSI hit overbought, ES MFI is still overbought. FDAX has gone up 2% 2 days in a row, I doubt it does a third, but I have no idea what's going on with this elections trading, so staying out.

If you think Biden is gonna win, I suggest a green energy company like BLDP or short Brazil (EWZ), if you think Trump's gonna win, short BDLP go long on EWZ....

Nov 3, 2020

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Also, AAPL and a few other stocks rolled over, and we know AAPL is the market. AAPL hit gap resistance....

Nov 3, 2020

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Also note.... intraday chart pattern is identical to yesterday.... not that it means much

Nov 3, 2020

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Quite frankly, I'm not sure any of this has anything to do with the elections, I think the bounce happened because ES was severely oversold, and oversold on the daily....

ES bounced during the big COVID tank when it got oversold on the daily as well.

Nov 4, 2020

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Futures whipsawing AH, down 10, up 35, down 10, now up 10, lol. Wait a second, now it's about even.

Anyone's guess where this winds up.