NQ Update 7/17

17. Juli 2020Had some calls overnight, flipped them on open because NQ MFI went overbought pre-market.

Seeing some mixed indicators on indices, done for the week and staying cash. My prediction is whipsaw, lol.

17. Juli 2020

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Forgot to mention that there's a pennant structure, which isn;t a surprise when the market is whipsawing without direction.

17. Juli 2020

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I doubt it breaks the pennant before we close today, the market has a habit of ending the week on a trendline.

We'll find out next week which way it breaks. Market has been pumped up by FAANG stocks so NQ pretty much dictates market direction.

COVID numbers or stimulus, pick your direction.... I'm staying all cash.

17. Juli 2020

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Defintely staying cash in this whipsaw finish to a whipsaw week

20. Juli 2020

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Big surprise there, lol... it broke upwards.

The pumptardedness will never end. Note that it's not overbought yet on MFI or RSI, so pretty good chance of a gap up tomorrow.

20. Juli 2020

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Almost overbought on RSI....