ES MFI oversold

Nov 19, 2020

Could stay oversold..... but I wouldn't count on it. Certainly looking like we'll get the usual Friday rally tomorrow.

Also, there's an open gap above from the Euro market open. And YM is also oversold.

Nov 19, 2020

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If you look at the 5 min chart, you can see that was a quick profit taking double bottom by the EUros that bought this morning and dumped.

I warned everyone not to chase the drop..... flipped all of my puts on the drop.

Nov 19, 2020

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Whipsaw day.... staying cash. Good luck

Nov 19, 2020

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Remember, options expiration tomorrow.....

Nov 19, 2020

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I just realized there's no gap above, investing.com had a website problem last night.

Probably EOD weakness then a gap up tomorrow thugh because that's what the market seems to do every Thursday/Friday

Nov 19, 2020

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Note: No longer oversold.... but barely

Nov 19, 2020

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OK, I didn't see that coming.... futures dropping AH. Not that I mind, I'm only carrying puts.