RTY Daily time frame +900 Ticks bullishThe RTY Daily time frame is in side ways
movement. The market hit the bottom of
support price point 1460 and is expected to
push bullish towards the future high price
1600 about +903 Ticks away.
Rty
The bear case The Russell 2000 usually leads the SPX. This is because small businesses ramp up and grow faster when the economy is growing and are more likely to fail if the economy is in recession. This chart shows that in May the Russell began to underperform the SPX measuring from the beginning of the cycle.
E-Mini Russell 2000 Short +900 TicksThe E-Mini Russell 2000 One Hour time frame is in sideways movement. The market is near the top of resistance. I am looking for the U-turn to sell towards support.
Chart of the day: Russell 2k leading indicatorWith the $ES and $NQ rebounding off the 200-dma and at the 61.8% retracement level, the big question is this another BTFD moment or part of a bigger move down?
The $RTY might provide a clue here with a breakdown from a wedge and a retest of the wedge lower boundary which is also marked by a SSR resistance. Odds are for a CD leg down for the Russell 2K and correspondingly the big boys and tech.
Russell 2000: Buy opportunity on 1D.The index has bounced this week off the 1,458.00 Support which was the contact point on October - November 2018. This is a cyclical buy opportunity on 1D and an early long signal as 1D is still neutral (RSI = 44.642, ADX = 33.294, Highs/Lows = 0.0000). We are long on RTY targeting 1,590 (Resistance). If this bullish sequence later holds the 1,498.80 - 1,514.20 zone as a Support, we may be looking at the start of a strong bull run to the ATH and beyond.
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Comments and likes are greatly appreciated.
Tracking 1480-1475 in Russell..From the previous idea (see attached: "Russel leading the consolidation pack") you will know that Russell in many ways has been acting as a leading indicator for US Equities.
This is interesting timingwise, especially when the break to new highs in S&P and NQ occurred was not comparable in Russell. So here we are now only needing to track the 1480-1475 region. This is the 38.2% retrace and we 'know' in advance is the level bulls would want to turn for continuation.
Should we break lower then it will really knock confidence and imply we are starting to show early signs of an impulsive selloff. This will also bring into question the more meaningful top.
Tracking it very closely with Mueller cleared...Best of luck all and thanks for the support!
Russell leading the consolidation pack?A quick update on the count for those following the index.
Nasdaq, S&P and Dow all starting to see some decent profit taking as we enter into resistance again. Here watching the Russell as there's a good chance the market has completed a 5 wave impulse move from the 16 lows.
The correction if the above assumption is right, means that this ABC retracement may have completed after we touched 1300 and we are now entering into a multi-month consolidation period. This will be a wide range, however, with plenty of opportunities on both sides of the pig.
Thanks all
Russel 2000 time and price analysis looking at the RTY/IWM index to hit 1532 this week according this time and price analysis. Additionally this lines up with the 1.27 Fib extension of the prior price swing. however there is resistance at the 1519 level to keep an eye out for.
Russell short (RTY) set up Short set up found on a 45min chart for the RTY Futures contract. Level is 1589.40-1585.50. 39 tick risk. Target at 1568. RR 4.5:1
