ES Daily RSI Oversold

ES Daily RSI Oversold

Daily RSI is oversold and it rarely goes much below that. On the chart you can see it did during the COVID tank and also the Jan Fed meeting.

Market is due for a technical bounce both on my 3 hr chart and also this daily chart , but I don’t see a big gap up happening with Europe being extremely bearish so stayed cash for the weekend aside from a handful of gold puts.

Sept CPI comes out Oct 13th so I expect a rally before that but DAX lost support today so Europe is now a big factor. Expecting a whipsaw week next week

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