\n\n\n\tES Update\n\n\n\nE-MINI S&P 500 FUTURES (CONTINUOUS: CURRENT CONTRACT IN FRONT)\tCME_MINI:ES1!\n\n\n\thungry_hippo\n\n\n\n\t\n\n MFI keeps bouncing off oversold then going back down. Not a behaviour that I've seen before, it's almost like an upside down melt up.... which would mean a melt down? \n \n Inflation numbers higher than expected (which isn't a surprise if you've done any shopping or filled your gas tank), so market not gaining any traction. $SPX MFI oversold on the hourly but not my 2 hr (which I prefer). \n \nEurope very bullish which is why the market gapped up despite the bad inflation news, DAX up .82% still. \n \nWHat's my call? It probably does the same thing it's been doing for the past 5 trading days, another gap up then drop tomorrow, lol. (I'm half serious I think). Every day is a pump and dump, probably the easy trade will be fading the gap again.