NQ MFI Oversold, that's my cue to flip my puts. Might still go down until RSI gets oversold, but I bailed.
Done for the week.
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Options expiration and a lot of stocks are oversold so bullish for the day....
but probably not gonna trade. Heading into the weekend all cash to be safe.
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Hmmm.... looks like RSI want s to go oversold
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Probably should have listened to myslef, I was right yesterday when I said it has to hit at least the top orange line. It did. And Europe sold off before the weekend as predicted.
Posting an updated FDAX plot, it's not oversold yet, so we can see a gap down and reversal Monday
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Looks to me like they shut the algos off.
Also Monday is a holiday, lol. Totally forgot. Gap direction could go either way.
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RSI hit oversold, expecting an EOD short covering rally because it;s Friday and options expiration
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If the algos are stll working then we should get a bounce Tuesday, but not worth the risk of holding a long position over the long weekend.
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Everything is pointing to a 2 or 3 day rally next week, might take a break and then short stuff Thu or Friday