ES EOW Update

End of the week (EOW) update, looks to me like the daily is gonna go oversold. I mentioned that RTY daily hasn't hit my target, and the pennant formation isn't complete on ES.

I think we get a lot of whipsaw next week after it hits the target. I don't think I'm going long until the budget issue gets resolved in Congress. You can expect a gap up when it does, but who knows the actual timing? Too much guess work next week, might just wait until Oct.

ความคิดเห็น:

This week just goes to show that you need to pay attention to chart patterns as well as indicators.

PCAR did get the gap fill as predicted, but that's a chart pattern if you think about it.

I kinda have to recommend staying cash next week, as I can't predict when the budget deal will happen. Generally speaking, when I'm cash, I root for the market to go down, lol, because it means more profit potential when I go long.