NQ Update

Heading to overbought in a hurry.

Fed meeting at 2pm EST, and gap direction will depend on META (FB) earnings after market close.

Gonna sit this one out until after the whipsaw, if I do anything it will be EOD. All cash, flipped my JNPR puts on open.

Kommentera:

Still melting up.

My expectation is a down move first because it's already up 2.7% for the day then pump after he speaks. That's what happened the last 2 times.

Of course we could see a new trend, but at this point I think the algos have to take this overbought. We'll see.

Kommentera:

Kinda amazing if you think about it, the market is pumping an expected .75% rate increase, ass backwards

Kommentera:

I'm looking at shorting BA after the Fed pump, then adding if the market gaps up tomorrow.

Only reason why it hasn't tanked on earnings is because they're pumping the crap out of the market. Definitely a good gap fade target tomorrow if we get a sizeable gap up.

Kommentera:

Just remember the initial movement direction is usually wrong, last meeting it did a triple whipsaw so don;t get caught in the wrong direction

Kommentera:

Whichever direction they pick, EVRYTHING will move in that direction so watch out and don't be complacent. Best thing to do is actually stay out, lol.

QUite a few longs getting greedy, I'd be out already, lol. I'm "Easy Money"

Kommentera:

Remember real news trumps indicators. Interest rate is real news.

Kommentera:

Multiple people asking me what to do here.... I'm staying out, possibly shorting BA, PTON or PDD at EOD. Not playing the whipsaw..... and it will whipsaw