NQ futures oversold with positive MFI divergence

2 Ağu 2019

3 hours seem to work the best for futures since they trade 24 hours, NQ now showing oversold RSI with positive MFI divergence which means a gap up on Monday. I'm sure they will tie some BS news top it as usual, either another rate cut or some stupid promise by the Chinese.

In the event that the market gaps down on Monday, I would go full throttle on weekly call options.

The market is run by computer algorithm, you just need to figure out the algos. Stayed long on a few stocks for Monday.

3 Ağu 2019

Yorum

After the initial drop, look at all the buy volume. You guys know the algorithm, buy on high volume, pump on low volume overnight, then dump on high volume during market hours. That's how the computers make their money.

Will be surprised if the computers don't gap the market up on Monday.

5 Ağu 2019

Yorum

Well surprise! Futures down big and oversold again with MFI divergence. It's probably gonna be one of those days where we gap up, drop at open then reverse quickly. Unless that is the Euros pump the market back up.

Watch for a reversal tomorrow morning, don't chase the gap.

5 Ağu 2019

Yorum

Wow, didn't expect that obviously.

Futures now oversold, but no divergence....

5 Ağu 2019

Yorum

I have no idea what the hell the market is doing. Does appear that the reversal won't happen until tomorrow even though the market is now oversold on the daily charts. Not sure which way it will gap, considering there's no futures buying going on.

Staying out until tomorrow, maintaining my long term positions in SMSI and BGS.

5 Ağu 2019

Yorum

Futures down big already but they gapped it down AH, so chances are pretty good for a reversal tomorrow after the gap down.

Futures gaps always close. Only a matter of time.