NQ Update

NQ MFI is almost oversold, so I assume that means a pump tomorrow when it gets there. NQ is the only index that appears to be melting up.

No idea which way the market gaps tomorrow, but I might go long on tech tomorrow. No idea what the market is gonna do this afternoon, so much news related whipsaw....

Commento:

NOTE: It's melting up because the market is anticipating a rate CUT Wed, if the Fed raises rates then it comes crashing down hard.

The Fed should raise rates .25%, but you never know with Simple Jack Powell.

Commento:

MFI now touching oversold, but just remember neither MFI nor EOD direction dictates gap direction. That usually depends on what Europe does in the morning.

Commento:

I think tomorrow might be one of those days where they pump tech and dump everything else. Be careful what you trade....

I don;t recommend holding a long position overnight, these gaps have been huge.

Commento:

NQ MFI bounced when it went oversold.

Sill not trusting the Euros, so no long positions overnight