RTY MFI almost overbought

Updated

Geez, it would have been an easier trade if they left everything oversold until the Fed meeting.

All indicators neutral except RTY MFI is almost overbought. ES overlay suggests we could see another dip before the meeting tomorrow.

Flipped my COIN puts on open for a wash this time because I saw the Euros were pumping futures. Staying cash until tomorrow morning, might just wait until after the press conf to confirm the next pump, lol.

Keep in mind there is still a gap above.

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Staying out today, just keep in mind this is a market that can go up or down 1% in less than an hour and SPX is only up 1% now, so it can easily go red.... or easily go pumptarded, lol.

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Press conf is today, for some reason I thought it was tomorrow, lol. I think I'm gonna stay out for a week, take a break then short when futures fill the gap.

Seems like an easier play at this point.

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Pretty decent pre-Fed pump on some stocks though, the next meeting I might buy calls the afternoon before the meeting at EOD.

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MFI now touching overbought, more the reason for me to stay out

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Remember, the market always whipsaws and most of the time the initial direction is wrong. Last Fed meeting was like a quadruple whipsaw, which is why I'm staying out.

There is money to be made in both directions, but damn you better be quick, and it's hard to do with options sometimes because the spread tends to widen during the whipsaw. Just watch....

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COUNTDOWN TO WHIPSAW!

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No position, but I still maintain that Powell doesn't have the balls to go .75%

We find out in a few minutes

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Well I was wrong, lol. That's why I don;t bet on Fed meetings.

Now the market is trying to pump bad news, it won't end well

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Reminder: The last time the market pumped bad Fed news the market absolutely tanked the next day.

The market is toast. Bought some puts, will add more EOD if the market rallies on bad news.

hungry_hippo

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