ES Oversold again
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Triple bounce into oversold territory with positive MFI divergence. Expecting a pop though it didn't quite follow my green arrow from a couple of days ago.
No position, might buy a few calls EOD if things look up.
No position, might buy a few calls EOD if things look up.
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LOL, broke the other way. Funny thing is, I didn't bother to read the news, CPI up 4.2%? That's huge. The ball is now in the Feds' court.I thought it was gonna be less than 3%. No long positions for a while, will short the pops.
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Indicators are broken, treasury auction tomorrow will probably be a disaster. Potential for more downside, but you're chasing an oversold condition....Might buy TLT and GM puts EOD if they finish at the bottom
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Screw the indicators, they don't work during a tank. Bought TLT and EWZ puts on the weird midday bounce. Will add some GM puts if it finishes near the bottom.30 yr treasury auction tomorrow. Betting the auction fails because nobody is gonna buy 30 yr bills at the going rate when inflation is >4%. That's a money loser, and banks aren't that stupid.
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RSI oversold on every indicator, hold your puts at your own risk....Not sure where it goes tomorrow, but there will be a short covering bump up from here until close.
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