Market appears to be melting up, but I'm holding off on calls until I see MFI go oversold. It probably gets there tomorrow.
No idea which way the market gaps tomorrow. Could just be a flat open which is typical after a Tues pump
No idea which way the market gaps tomorrow. Could just be a flat open which is typical after a Tues pump
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Also, BTC appears to have lost steam and no formed what appears to be a H&S pattern, though cryptos don;t seem to like making nice chart patterns.... so who knows.
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My best guess is a flat day tomorrow for a bear trap, fill the gap above Thu then whipsaw Friday.
If they fill the gap tonight, I think the market drops because nobody will chase it.
If they fill the gap tonight, I think the market drops because nobody will chase it.
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The algos are 100% back in control though, they managed to pump NQ 2% on no news.
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Is BTC now a leading indicator?
Anyways, I told you so. No long positions until MFI gets oversold.
Anyways, I told you so. No long positions until MFI gets oversold.
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Wow, damn that's bullish, the dip disappeared in minutes, lol.
RTY already filled the gap and NQ is only 100 pts away, so close i could even fill the gap overnight and turn around.
So much for waiting for MFI to go oversold, lol.
RTY already filled the gap and NQ is only 100 pts away, so close i could even fill the gap overnight and turn around.
So much for waiting for MFI to go oversold, lol.
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Apparently the afternoon whipsaw was caused by Powell talking about rate hikes. Every time he opens his mouth we get a whipsaw, lol.
Very hawkish comments though, he basically said f the market.
Very hawkish comments though, he basically said f the market.
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I'm still thinking inverted H&S because the gap above hasn't filled. Tread carefully....