NQ Update

Algos appear to be buying futures because NQ MFI is oversold but the market seems to be selling stocks on any strength. Bond yields rising, garbage stocks all look weak.

I think the next selloff gets ugly for garbage stocks. Technically speaking, my indicator actually says buy, but I'm not buying into this, with the Fed meeting coming up any futures pump is bound to fail. Better to short the pump.

Commentaire:

If the market finishes red with NQ oversold, I think that's going to cause some Asian and Euro firms to turn off their algos, they pumped on China re-opening and ECB "hope". Doesn't mean jack ****, to the US market. Everyone's scared of Powell now, lol.

Chinese ADRs are the only thing that really pumped today.

Commentaire:

MFI still oversold, every time MFI has stayed oversold this long RSI has gone to oversold. Bearish, at least for tomorrow open and morning.

Market whipsaw afterwards probably, lol

Commentaire:

The Asians appear to have shut their algos off, Japan is green (in terms of futures), China flat, only Korea is down but US futures are down. Normally, it'd be flat.

Not that it really matters because as you guys know, teh Euros determine the gap.