Last time we looked into Russell 2000 (RUT) on May 09 (see chart below), we expected a technical pull-back, and even though it gave one more week of upside, the index eventually did start to correct: As mentioned then, we see similarities with the January - March 2022 Bear Flag but mirrored (Bull Flag). That pattern made a Double Bottom on the 1980...
Let's see. I am betting on a generational low in small cap stocks and a bull run from here. My time horizon is 5 - 10 years, but looking at this year for the heaviest move. My portfolio consists of 35% TNA 20% XBI 15% RDFN 20% TAN 10% SPWR
Russell 2000 reached the bottom of the (1d) Channel Up on a symmetric -9.20% bearish leg, like the one before. It is holding above the MA100 (1d), same with August 25th 2023, which was also a -9.15% decline but the rebound failed to close over the MA50 (1d) and resumed the downtrend. Trading Plan: 1. Buy on the current market price and as long as daily candles...
AMEX:IWM chart analysis/mapping. IWM ETF rally off late October lows on market expectations of the end to Fed rate hikes. Trading scenarios: Continuation rally #1 = multiple gap fill / 38.2% Fib / upper range of parallel channel (green) confluence zone. Shallow pullback #1 = 23.6% Fib / horizontal line (light blue dashed) confluence zone. Deeper pullback...
Quick idea here as we look to get back in a groove with analysis/posts after a very light October. Not going to include a lot of elaboration, but we're looking to take advantage of a swing short (price depending) via a low timeframe (5-minute) RTY supply zone (defining candles not pictured here since sub-15-minute charts cannot be posted). If price approaches the...
CAPITALCOM:RTY chart mapping/analysis. Russell 2000 still stuck within trading range despite recent rallies across major US indices. What's on the chart: Ascending parallel channel (light blue) captures upward trend over multi-decade timeframe Descending parallel channel (white) frames downward trend from upper to lower range (multi-decade) parallel...
In previous threads looking at SPY: SPY - Did We Bottom, Or Is Manipulation Coming? Nasdaq Nasdaq Futes - You Wanted a Dip For That 'Santa Rally,' Aye? And ES SPX ES - Welcome To The Fourth Quarter Rodeo We've noted that both the extreme bear and extreme bull cases are dubious. After the five day 8% rally to start the month, we warned that...
Ultimately, this is a market that has plenty of buyers underneath, and therefore it’s likely to see more of a “buy out the dip” mentality going forward The Euro initially tried to rally during the trading week but got absolutely crushed as bond yields in America continue to be a major driver of markets. Nasdaq crashed from 15335 Highs down to 14875 as many times...
Russell 200 (RUT) has had a big safeguard on the current Bull Cycle following the Housing Crisis bottom in 2009. The symmetrical Zone that was formed on the previous All Time High (ATH) has always held once it transitioned into Support upon periods of corrections (with the natural exception of COVID) and provided the framework for the rebound initiation of the...
CME_MINI:RTYU2023 If the price of RTY breaks above the bullish line of 1947.4, it may indicate a bullish signal, suggesting potential upward price movement. In this scenario, the target price could be set at 1964.5. Conversely, if the price of RTY breaks below the bearish line of 1937.5, it may suggest a bearish signal, implying potential downward price...
Hit overbought on RSI and MFI, but I think it's a pump and dump. Expecting a gap up tomorrow, maybe dump on Fed minutes? Keep in mind RTY can go way overbought or oversold, least reliable of the index indicators. TLT already looks like it's hit bottom, so I don't see a tank coming either way.
Yeah, I said overBOUGHT. That means don't BTFD. Wanted to post this early since I said BTFD earlier this week. I have NO intentions of going long today. Will post ES and NQ updates later since they are not overbought yet. Also, I was right about playing GM puts for TSLA earnings, looks to be 175% return on open. I didn't play it, lol. Gonna kick myself on...
CPI pump and dump as predicted, RTY went overbought on RSI with MFI divergence. Fed meeting minutes at 2pm, unemployment and PPI numbers premarket tomorrow and retail numbers premarket Friday. Garbage stocks didn't even last 15 minutes, lol. PTON shot down so fast I couldn't even catch up to it. Managed to snag a few BYND puts, we'll see where taht...
ES and NQ MFI are creeping up because they went oversold yesterday but RTY MFI is dropping because it hi overbought this morning. Also, FDAX MFI hit overbought, so high probability of a gap down tomorrow or every index. ES and NQ might melt up today but watch out for the gap tomorrow and I'd shy away from small caps. Still all cash, waiting for Friday CPE numbers.
No idea what the other indices are doing, looks like a melt up on ES and NQ because MFI is dropping while RSI is rising. RTY is oversold, and PTON is up so it means short squeeze time, lol. Small long position, don't need the heartburn.
UBS buys Credit Suisse, central banks liquidity provision, and a massive repricing in rates marked a significantly volatile week. As the storm of bank contagion continues to brew, one index in particular is trading unlike the others! We’re talking about the Nasdaq here. Trading higher while its peer indexes get beaten down in a somewhat unusual fashion. ...
Although there is support for IWM between 182-1, I think the real target will be the combination of the monthly BB and 100 ma, around 158-156. Structural trendline (purple) looks right and it's no surprise it showed up at the 18ma exactly to regect the advance. IWM divided by SPY is a bull flag, so I expect IWM to sell off much more than spy once it breaks out -...