short term on that dump the MA ribbons got too stretched, wide -
and have bounced nearly 40 points off those lows. Steve and I were
commenting at that time and I sent this first image to him stating
that the MA ribbons on the shorter time frames, 10, 4, 3 min, were
too wide/stretched and due for a bounce. Steve said he covered some
ES there to be prudent.
the first image shows the one I sent to Steve an hr ago, the 2nd
one is from now, you can see a bounce occurred right from there.
The MA ribbons are valuable from that standpoint as a good visual
guide
the news also while scary wasn't substantiated from what I seen
so any positive development would have spiked futures
maybe we rally into that
RSI divergence on the 5 min now....Holding that 4285 level....
Posted by mrjasongill on 3rd of Mar 2022 at 08:37 pm
maybe we rally into that 4343 support it lost and dropped like a stone from....BUT, kinda looks like a wedge forming on the 5 min too right here.....
short term on that dump
Posted by matt on 3rd of Mar 2022 at 08:54 pm
short term on that dump the MA ribbons got too stretched, wide - and have bounced nearly 40 points off those lows. Steve and I were commenting at that time and I sent this first image to him stating that the MA ribbons on the shorter time frames, 10, 4, 3 min, were too wide/stretched and due for a bounce. Steve said he covered some ES there to be prudent.
the first image shows the one I sent to Steve an hr ago, the 2nd one is from now, you can see a bounce occurred right from there. The MA ribbons are valuable from that standpoint as a good visual guide
the news also while scary wasn't substantiated from what I seen so any positive development would have spiked futures
we'll see how things develop overnight
rally made it back up
Posted by mrjasongill on 3rd of Mar 2022 at 08:52 pm
rally made it back up there....4344....I'm short again...