NQ headed to oversold again

18 Sep 2020

Looks to me like it's headed to oversold again because the algos don't care about price levels or "support". Support might hold today, but best guess is that they gap it down with futures Monday.

The market can't go up until AAPL gains traction, AAPL is the market, Keep an eye on it.

I've got NKE puts for earnings but I pretty much lost every earnings bet so far this quarter so probably not a good idea to follow me on earnings trades, lol. I did make all of the losses back this week with MU calls and bunch of puts bought Wed, I told you guys NQ was overbought Wed premarket....

18 Sep 2020

Catatan

And it broke support while I was posting this lol

18 Sep 2020

Catatan

Expecting a bounce in the last 2 hours of trading just like last Friday, but I think I'm going to stay in cash over the weekend. i do have a few NKE puts for earnings next week. They would have to report blowout numbers to be at ATH in a pandemic

18 Sep 2020

Catatan

LOL, I should really trade off my own plots. NQ touched oversold. I think it can go farther, and besides that, I want to be able to sleep this weekend, so no new positions.

Generally speaking, I would go long here, but I'm just not feeling it. If we get an exhaustion gap down on Monday, I'll go long.

18 Sep 2020

Catatan

I guess I wasn't feeling it because AAPL still looks weak and ES/RTY/YM never hit oversold.

Also, there was no futures pumping at all yesterday like foreign markets turned off their pump.

Look at how NKE finished... see, I told you guys to short it, lol. I might bail out Monday though if it tanks pre-earnings, or at least shuffle into a lower strike and less contracts.