Indicators are neutral, but it looks to me like RSI needs to go oversold before we see buying. That implies a possible double bottom.
I think the market is done tanking for the day though it looks like I flipped my AFRM puts a bit early, but it had already done a 10% swing from green to red. Congrats if you shorted garbage on the morning pump, all my garbage stocks are red now.
Fed meeting next week, and I'm still bearish until RSI gets oversold.
I think the market is done tanking for the day though it looks like I flipped my AFRM puts a bit early, but it had already done a 10% swing from green to red. Congrats if you shorted garbage on the morning pump, all my garbage stocks are red now.
Fed meeting next week, and I'm still bearish until RSI gets oversold.
Nota
Looks to me like the market isn't gaining any traction because everyone expects a double bottom. We'll see tomorrow....Nota
Seeing some short covering in certain garbage stocks like PTON and BYND, might sit out tonight, we'll see.Nota
The market always seems to reverse with a big gap down, so waiting for that.I am scratching a few garbage stocks off my list though, PTON, BYND, AFRM, RBLX, FSLY, LCID seem like they're played out.
Nota
Down 1% and still not oversold. Will update premarket if I have time
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