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.
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Overnight chart pattern looks identical to yesterday.... big pump by the Euros on their market open
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AAPL already filled the gap and is moving up now....
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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.
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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....
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Also, AAPL and a few other stocks rolled over, and we know AAPL is the market. AAPL hit gap resistance....
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Also note.... intraday chart pattern is identical to yesterday.... not that it means much
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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.
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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.
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