Market

[Pascal]

Today's opening gap does not attract money yet, to the contrary.
The OB/OS signal is near its oversold level and the MF does not seem to be willing to move higher.
Patience is required on the long side.


Pascal

[Pascal]

No reason to jump in and buy the bounce for now.

Pascal

[Pascal]

The S&P500 already erased the gains of last Thursday.

The NQ8 is in a small downtrend, but the Money Flow looks volatile around the 0 level.

Basically wait and see for now.


Pascal

[Pascal]

I did not expect to see the 20DMF so dull today.
What is this market expecting? When will they push things up? The QQQ Max pain level is $164, which is not that far away. The SPY max pain is 277.5. A little far I believe, but that can be done.

For now, I'll be waiting to add to the long positions.


Pascal

[Pascal]

Market is really non-directional. Large players do not seem to buy today's bounce, while small caps display a negative Money Flow. Maybe some fear regarding bearish FOMC minutes tomorrow.

Large caps energy stocks (XLE) look bullish here.


Pascal

[Pascal]

Today, the 20DMMF shows weakness while the NQ8 MF shows strength


Pascal

[Pascal]

The NQ8 MF looks weak today, but on a longer term view, we seem to be in a tight range.


Pascal

[Pascal]

Really impressive systematic buying. It is as if there was some constant/regular liquidity injection.
Is it a central bank initiated message?


Pascal

[Pascal]

To know whether the bounce has legs, one clue is to see if it attracts money.

Better do that in the afternoon though as this is when the funny money used to appear.


Pascal

[Pascal]

Tech under pressure as each price bounce is sold.


Pascal