ES MFI heading towards overbought

2 Des 2021If ES stays in the downward channel, it could actually tank again tomorrow. All other US indices look similar. HSI MFI is overbought on MFI though.

Basically if you carry any position overnight you're betting on if it breaks the channel or not. I have no idea which way it goes, lol.

3 Des 2021

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Well, I warned you guys about the down channel.... that's all I gotta say.

Euros could pump it back up unless it's some sort of global bad news, who knows. Getting tired of this whipsaw, lol. The only way you can make any real money is if you best the opposite direction of the market at EOD every day. I did that at the bottom of the COVID tank when it was hitting the circuit breaker every other day.

3 Des 2021

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Kinda hard to guess futures direction when it whipsaws, lol.

Like I said when I posted this plot, it all depends on if ES can break teh channel. We'll find out in the morning when we wake up I guess.

What's odd though is US futures should be up more based on what all the foreign indices are doing. A bit strange, maybe some profit taking befor ethe weekend.

3 Des 2021

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Well we found out, another pump and dump, lol. STill in teh channel

6 Des 2021

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Broke out of the channel, I guess that's bullish.