Rty
RTY Channel 7/18/2020This is the RTY at the 4 hour.
Which will the RTY do first? Fill the gap below or breakout to reach 1500?
The NQ has entered into a distribution phase. Tech stocks are going down and the money is heading to the non-tech stocks like financials and transportation. That's the RTY's bread of butter.
RTY may be getting reach for another surge. The question is: will it fill the gap first or go for 1500?
Personally, I would be happy to buy RTY at the 1420's.
RTY Breakout 7/15/2020Investors and traders are leaving tech to go for better value stocks: financials and transportation.
RTY rallied big time due to this shift in breadth. I am expecting a small pullback for RTY. However, from the looks of it, financials and transportation have entered into an uptrend channel.
If you're going to short, short very, very carefully. It's probably safer to long from major supports. Stock breadth is strengthening. Liquidity is strengthening. That is all pretty bullish. RTY is known for bouncing unexpectedly.
RTY in a BoxThis is RTY at the 4 hour view. I just said screw it with the channels for now until RTY makes up its mind.
For now, RTY is stuck in a volatility box. The dotted lines are tier I support/resistance. The dashed lines are tier II support/resistance.
You can swing trade while the price goes back and forth. At URTY/SRTY, that's still a 3-7% profit per day.
The fate of RTY really rests on the decision that XLF/FAS and XTN/IYT make. Financials and transportation make a bull market. Why? Because every business needs a bank account and ways to ship/receive products. Even tech needs its semiconductors and a bank for venture capital.
RTY (small cap futures) MFI headed to oversoldProbably hits oversold Monday, which means they'll pump everything.
Don't get too bearish if we get a market dip on Monday.
At least the MFI went down on this index unlike NQ and ES....
RTY (RUT FUtures) also overboughtRTY overbought as well but the market is too pumptarded to short today...
I think there's a fiarly good chance that the EUros will pump futures overnight.... might just have to sit in cash since I have no idea where this is headed.
If I do a trade I suppose it'll be GM calls, not small caps.
RTY UpdateThat's one heck of an MFI divergence if they pump this overnight into overbought condition. I think there's an opportunity to short small caps tomorrow or Wed...
Russell 2000 broke its 3 month long bear flagJust needs one push down now, already breaking the bear flag.
RTY1 Small Caps futures oversoldAs I suspected, small caps are oversold on both MFI and RSI, I overlayed the last pump and dump for my followers.
I don't think this stupid rally is over yet, but we'll find out next week.
$RTY_F most bearish$SPX $SPY $QQQ $ES_F $NQ_F $YM_F -- $RTY_F is obviously the most bearish and will lead the way down. very clear bear flag on the daily chart.
Next Threshold Target > $1540 for RTY!First off, please don't take anything I say seriously or as financial advice. As always, this is on an opinion based basis. That being said, given support momentum for RTY! and the recent high, the next bullish target it seems to be heading towards is the $1540 price point. Overall, I'm bullish and its looks to have some strong support metrics.
RTY Small Cap FuturesI don't look at small cap futures much but since it's so pumptarded now, I had to take a look.
Possibility of one more pump into overbought territory before a pullback.
Russell 2000 Might Have Another Bounce LeftHere's why I'm not buying this selloff necessarily.
1. Famous double double bottom setup
2. .5 - .618 retracement done
3. Closed above support
RTY Hit monthly supportRTY Monthly time frame hit support. If support holds, market should head right back up.
RTY Monthly time frame as supportThe RTY Monthly time frame is holding at support. As long as the market does not close below support, I am expecting the market to push +3,000 ticks bullish towards resistance.
How the Russell 2000 indicates a correction in the S&P 500The Russell 2000 small cap index has been a prevalent lagger throughout the whole US equity rally into all-time highs. This is of concern for the health of the economy and the health of the S&P 500 index. The small-cap sector reacts the most to economic conditions and monetary policy, being the most affected if they cannot make new highs and are over 8.5% away from all-time highs we can infer that a stronger correction of 8-10% may occur in the S&P 500.
The S&P 500 is full of companies that have been artificially inflated by stock buy-backs and also monetary policy allowing for cheaper borrowing. There is a healthy retrace coming out to catch down to small caps since they have not relished in the strong economic conditions. Which presents another concern, is the economy that strong to begin with? If there is a correction, there could be more buyers in both the S&P 500 and Russell 2000 companies to help markets reach all-time highs yet again.
Russell 2000 Price Forecast- All Time Highs?With new all time highs for everyone else, The Russell feels left out. If this beast gets too emotional, and wants to join in, I believe this is how it would look : )
- This is not financial advice. For Artistic purposes only.
