Well, I said yesterday that the market would probably dip today and it did. MFI and RSI are no longer overbought on every index.
The question now is if the market melts up from here or goes back to oversold. I can see an argument for both sides, just gonna sit back and watch for now, though I probably should have gone long on gold or shorted the dollar yesterday, lol.
The main thing that makes me bullish is that open gap above. On a fundamental basis, I'm bearish but that may not play out until next year. You can't do short term trades on fundamentals though.
The question now is if the market melts up from here or goes back to oversold. I can see an argument for both sides, just gonna sit back and watch for now, though I probably should have gone long on gold or shorted the dollar yesterday, lol.
The main thing that makes me bullish is that open gap above. On a fundamental basis, I'm bearish but that may not play out until next year. You can't do short term trades on fundamentals though.