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.
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.
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.