Small caps still overbought, just won't die, lol.
MFI overbought but small caps still rallying while otehr indices drop. Obvious sector rotation if you look at IWM and QQQ intraday charts. No idea why... very strange. In any case, overbought.
RUSSEL 2000 gettin overbought due to sector heavy rotation of last weeks. Possibility to open a entry position here and scale in if it breaks down below 1815$. Average down if market push up higher or use SP500 as reference for stop loss. Shorting is super tricky and it's impossible to time them perfectly. This is a counter-trend play, so very risky. Regression to...
I mentioned a few weeks ago that speculative stocks tend to trade with small cap index, looks like BLDP and a few other stocks had to go parabolic to catch up, lol. Don;t short speculative stocks unless you expect RTY1! (small cap futures) to go down.
Overlayed the May/June rally to see where we're at.... Take it for what it is.... not suggesting a huge dump will happen next week....
If we're above these levels I gotta consider adding something like this position. Just a lil bit. And ease in more if it's working. RTY/NQ is also looking like a massive base is forming, but I feel like it will take more time to heat up. At any rate, at some point this train is leaving the station. Just don't want to be too early or too late.
Continuing my idea from yesterday - multi day picture shows whats been going on. Interesting is the volume profile - or rather the lack there of - this a one hundred point plus move that was initiated before the latest vaccine news. Lots of measurable divergences - but the forces that be are keeping this up - the cumulative deltas have gone negative. Look...
I monitor to RSI of bunch indexes using TV alerts - last night RTY was under 25% - and now it just turned to 75% as I'm typing. However this looks like a back test before we move lower, impressive ranges in the Russell - its moving as much as the /ES on daily basis. Good dose of divergence at this point which is outlined in chart. Naked VPOC at 1744 that...
RTY MFI went oversold last night, obvious sector rotation as small caps are outperforming everything else.
I've been saying for a while that he original COVID gap on RTY needed to be filled, well it filled, lol. Slept in because I was all cash, missed on on this hilarious spike. Note the MFI divergence, just another pump and dump.
Remember that all futures gaps have to fill, and RTY still hasn't filled the original COVID gap. Needs one more pump either tomorrow or Monday....
Hi traders and investors , if the price breaks the parallel channel and the resistance with the volume we will see a great rise and if the price breaks the parallel channel down of couse the market will go down
This will definitely pop up once MFI goes oversold, still needs to fill the original COVID gap down.
RTY experienced an explosive move down from a pivot level which historically has been a favorite pivot point, once being Supply, then becoming demand, etc... Looks like we are currently in Supply mode. Take the Short at supply if price has the strength to retrace Expect 3:1 profit and if possible trail it from supply level to supply level as long as we...
Since 2018 NKD1! has been posting diminishing returns within their market. Though, these are new times none of us have witness when it comes to new economic and monetary policy. Do we reject this trend and print yet another lower high? Or does the Japanese market breakout? What is interesting is that during the US market correction that occurred at the start of...