NQ Update (MFI almost overbought)

MFI is almost overbought and index is stuck on my red resistance/support line. Looks to me like it'll sell of when MFI gets overbought, and there was some lack of liquidity yesterday, so watch out.

News or no news at least we know the algos are still cycling between overbought and oversold. More whipsaw coming, assume it'll go sideways sell when overbought, buy when oversold..... I guess.

ES looks the same, RTY is similar, though I think RTY might go up further.

Kommentar:

Best guess is EOD pump, gap up tomorrow and reversal. Just a guess though.

I don;t see a melt up happening with yields still rising

Kommentar:

Note: A lot of stocks that normally fill gaps did not this morning, and they will eventually. Hence I expect more whipsaw