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IWM

Week 4, 2022: Market ExpectationsFor Week 4 I am expecting positive movement in the S&P 500, with not all sectors participating. I expect tech to have a dead cat bounce, maybe early in the week, especially when viewed on the equal weight QQQ. I believe it will be a bull trap before moving lower. The most bullish market, and that is used loosely, is the IWM. It looks like it could be forming a bottom, but it might need all winter to firm up. Time will tell Finally, Oil appears to be ready to break out to new highs again. I'm not saying it will be this week, but I wouldn't expect it to break too low this week. Maybe energy will rest for the week, but it might be a place to load up. S&P Equal Weight QQQ QQQ Equal Weight Small Caps Oil
SP:SPX
by SpartyPA28
Leading Indicators not bullish, slow deterioration observedReviewinig the Leading Inidcator Weekly panel... The JNK has a Sell signal, retraced and may break down to a lower low target, as previously expected. Not yet happening, but with a lower high, the bias is closer to the downside. The IWM (Russell 2000 ETF) also has a Sell signal and lower high. Waiting for a lower low confirmation with a break of support. The DJT is also similar. The Value Line failed to close the recent gap, suggesting downside bias. The TIPS clearly broke down through two support levels with a system Sell signal. So this one committed. All the above have MACD technically bearish bias. The TLT is oddly breaking down too. No comments about this at this point of time. Just unusual. The VIX is also unusually complacent, being <20. Technically seeing a possible spike some time in the next two weeks or so. I just added the Copper futures in the panel... according to Russell Napier, Copper futures is also one of the leading indicators we can use. For now, it is ranging and not committed to any trend. I hope we get some committed trend soon! Stay safe!
COMEX:HG1!
by Auguraltrader
IWM - is stochastic warning of a major support break?IWM has been rangebound for almost one year now. Price was around highs of 170 before the "Covid drop." The 212 area is strong support, but it may break soon. Since price broke out of the upper resistance and fell right back into range, a break of support may soon follow. Let me explain how I use stochastic %K warning signals, which usually lead price movement. My custom setting is 10-period %K and 7-period %D (I do not use D-slow), which I find to work well for my day and short swing trades. When %K (blue line) drops from above 80 to under 20 in 2-3 candles, it warns of more selling, and the corresponding price candles are usually innocuous. Usually I look for price to bounce first and then make a significant drop, as happened at the end of October (white oval). %K gave a warning signal and was followed by a quick reaction bounce before a larger selloff. Sometimes, as is happening now, %K will give a warning and it is followed by lower RSI and continued selling. This signal does not work 100% of the time, but I use it regularly with high success to enter long option trades. Also, the same is true in the upwards direction; a sharp rise in %K from under 20 to over 80 signals a stock will soon make a significant move up. On 6 Jan I bought two put positions when IWM was 218-219: 21Jan 215 strike and 18Feb 210 strike. With markets dropping sharply right now, wait for a good entry. IWM should retest 212 and if it bounces up again instead of breaking support then I have plenty of time to exit Feb puts without a big loss.
AMEX:IWMShort
by OptionsRising
3
Leading Indicators point to more the obviousLeading Indicator panel update: JNK - the topping pattern continues to play out for JNK, looking for a lower low, after the last lower high. IWM - The Russell 2000 ETF failed a breakout late last year, and is about to break down of a support given the bearish weekly candle. DJ Trans - a system Sell signal, and likely downside off the Dark Cloud Cover pattern. Value Line - Similar outlook to DJ Trans, with bearish candlestick that failed to close the gap. TIPS - Totally bearish Marubozu that broke two supports, with MACD bearish. This market forerunner is not boding decisively bearish. TLT - Instead of the expected bullishness in a bearish market, we see TLT being dumped with a gap down marubozu. VIX - still low, coiling to spike perhaps? ES1! - The S&P500 futures had a Bearish Engulfing last week... indicative of a follow through downside in the weeks to come. So... the leading indicators overall are bearish, and getting more so, with the S&P500 just became indicative of some real retracement potential in motion.
NYSE:DMT
by Auguraltrader
ROTATION ? OR TRANSITION TO BEAR QQQ VS QQQE has started to show a very clear move out and is just stating to hit the Big mega caps names . I DO NOT have any sign of a bottom now ! the line in the sand is at 375.91 in the QQQ and I would think that we will see the QQQE breaking the neckline of its head and shoulder pattern that has formed .Cycles are neg now till late jan to early feb . One by one of the winning mega caps cost msft seem to have now formed a top and i look for downside to be picking up rather soon . have a good weekend and best of trades WAVETIMER
NASDAQ:QQQShort
by wavetimer
Best places to go long or short the RussellThe Russell is even cleaner than the Nasdaq. Two major buy / sell areas on the chart. So far the Russell has been playing the game of chop. Sweep the lows, sweep the highs and move in the other direction. The same way we had a failed breakout, we could get a failed break down. Best place to sell 2310-2360. Resistance/Gap combo and the real direction for now is down, so it is with the main trend. 2200 & 2080 are decent for short term trades. As we go down they are good for a bounce. If they get broken they are good to put shorts if the market bounces from lower. Best place to buy long term is 1980-2030. Extreme support combo with 1. Untested breakout / gap, 2. Key Bollinger bands, 3. 400 DMA
CME_MINI:RTY1!
by BitcoinMacro
Closed: IWM January 28th 219C/231P Short Strangle... for a 16.48 debit. Comments: Total credits collected of 16.48 (See Post Below); scratching it out here for exactly that amount. It's possible that I could've still made money on this trade since price was in-between the strikes of my inverted setup, but my preference is to look to scratch these out if given the opportunity and then redeploy the buying power in something more productive from an implied volatility and probability of profit perspective rather than hang out in them attempting to make them winners.
AMEX:IWM
by NaughtyPines
5