RTY UpdateDoesn;t look like the market will dip until both RTY and YM are overbught.... so probably tomorrow afternoon or Monday
Rty
RTY UpdateSeems to be the only logical reason why teh algos are pumping futures.... to get RTY out of oversold territory.
ES is overbought but the market appears to be mlting up anyways. Thursdays are usually bearish, so not chasing the pump
ES and RTY consolidation targetsES / SPX
ATH gives a bullish stance but looking for a correction / more consolidation first.
Looking to retrace to first stop @ 3630
POC for the current run up from 02 Nov 2020 is @ 3560
RTY / RUT
Consolidating below POC, if there is a close below 1822 a retracement to VPVR nodes is likely
First Retracement to 1800 (weak support) then to the next much more solid node @ 1780
A close above current POC of 1845 will generate a probable break of ATH
RTY at ATH and MFI overboughtMFI 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.
RTY IWM RUSSEL 2000 short , early positionRUSSEL 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 20ema should be achieved before another push up.
PT1:1815 (small pullback)
PT2:1753 (retracement)
BLDP UpdateI 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.
RTY - May/June overlayOverlayed 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....
Long RTY / Short ESIf 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.
Russell Version to the Mean
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 forward to seeing this return to the mean.
Russell Back Test
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 needs visiting - that's 40+ lower.
RTY MFI went oversold overnightRTY MFI went oversold last night, obvious sector rotation as small caps are outperforming everything else.
RTY COVID Gap FilledI'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.
RTY COVID Gap FillRemember 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....
RTY dor long $$$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
RTY MFI close to oversoldThis will definitely pop up once MFI goes oversold, still needs to fill the original COVID gap down.
RTY Short at SupplyRTY 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 can
Higher timeframe is in a downtrend and RSI weakening at each pivot high encouraging continued weakness and permission to take the short.
Spooky Trendline NKDSince 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 September, NKD merely chopped. This appears to be a bullish sign, but we shouldn't enter a play at this moment. We will wait for either a breakout or a breakdown to position ourselves in the correct manner.
RTY Update 10/9Well, I was all cash and overslept, lol. I'm on the west coast, not waking up at 6am when I'm all cash.
I warned everyone last night about "stimulus" news, everything overbought but still rallying. If they agree to a deal over the weekend, we get a huge gap up on Monday, despite all indicators. All other world indices were slightly red, which I expected and I wasn't going to bet against my indicators, so I stayed out.
RTY MFI did drop, and it will pop again when MFI gets oversold, so look for another pop next week on stimulus to close the COVID gap. YM (Dow) dropped when it closed the gap, expect the same here.
Wish I had bout FTNT or DLTR calls, both were on my radar. Oh well.
Also, don;t short on Friday afternoons, market always seems to rally. I think all cash and fade the gap when stimulus news is announced.
RTY OverboughtStay away from small caps.... overbought.
I think it might get a small gap up tomorrow based on previous rally (overlay), but definitely not worth chasing. Very close to resistance zone anyways.
