Good point becky. That didn’t turn out to be the case last night as the futures just flopped around since yesterday’s close but quite often, it is the case, especially when volatility spikes following an extended low-volatility period (as it just has). Also, keep in mind that the micro futures (/MNQ, /MES, /M2K) have much smaller leverage factors than the E-minis (/NQ, /ES, /RTY, etc..) but trade as the same price level (hence, same charts). That allows those with smaller accounts or even those with larger accounts but only wanting to get their feet wet trading futures with relatively small position sizes/exposure.

Essentially, I’m (very) near-term bullish (bounce today scenario), intermediate-term bearish (more downside next week (at least) but until we get some longer-term sell signals & trend indicators rolling over, I’ll have to assess the longer-term scenario as the charts develop as there just isn’t enough evidence (yet) to say that the turbo-charged, Fed-induced bear market rally off the March lows has run its course.
Also, yes: the $VIX appears to be headed higher, minor zigs & zags aside, and if that end up being the case, it will almost certainly coincide with another leg down in the stock market. Also, keep in mind that, historically, once the $VIX breaks out above a well-defined downtrend or falling wedge following a divergent low (as it has recently), it tends to rally pretty hard, fast, & relatively steady with only relatively short pullbacks along the way.

Wait for it. 9am you come here and see what happens.

I think you better do that with futures otherwise it’s pointless, you wake up 9am you get Trump pump or dump and you just can’t get out of your trade.

Nothing new here. The history repeats itself all the time.

I just cancelled my QQQ bounce order for the morning because after hours QQQ is already down $5 and NQ Futures is down 157! … I guess until all Fed stimulus has run it’s course trend lines and just textbook chart reading is out! … still sounds go though … unfortunately I drank the short cool aid and sold all my inverse positions just before the close to make room for the “bounce”! … I will be working by myself tomorrow to fix this frickin mess!

I wish. I’m just speculating. But that is my plan.

He should have been a marketer

The arrows are just subliminal messages. Pointing to ‘Watch Later’ and ‘Share’. Must Watch Later and Share. Overwhelming sensation to Watch Later and Share. LOL

1929, back in the days when the original Tesla ruled the future.

“September 3rd marked the top in 1929 following a furious rally fueled by wild optimism, excessive retail speculative behavior and markets disconnecting far above the fundamentals of the economy.”

Sounds like you have everythimg figured out

He said he expects a bounce. I’m hoping it will happen over night in the futures market then we see more down side tomorrow. At the end of the video he said he is still long term bearish. I think the strong move in the VIX is forecasting more downside. For sure the drop in the market will spook congress and they will pass a stimulus bill next week which could spark a new uptrend.