RTY1!11.30.21 Russell 2000: Looking at market dynamics, opportunities for buyers and sellers. Time to start looking for buyers for a nice move higher.
RTY1!
RTY daily oversoldRTY oversold on the daily, but it still went down during the original COVID tank....
Indicators say buy here, but the other indices are not oversold yet. IWM chart shows the same.
iwm updatepreviously i discussed the requirement for iwm to break-out of the range it was in \ consolidate above it & hold to see continued upside for that final fifth wave.
we've broke out finally, but is this a real breakout, or is it just another trap?
i'd like to see it consolidate up here for at least another week before making any kind of decision.
if it could pull this off, we'll see small caps go parabolic for a bit.
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20 year count 👇
Hustle in the RussellAnother straight forward idea, RTY came back into a very nice retracement area with the down sloping trend line and horizontal support from the September high. This is a great area to add for a bounce and a stop would be a daily close below today's low. The target is around the 2380 area, and if all goes well it should tag it before the end of the year.
20 year elliott wave analysis ($iwm)someone asked me this evening if i thought iwm was in a phase of distribution right now- so i decided to take a deep dive into the entire history of this chart, and here's what i've come up with.
no, i do not think it is in a phase of distribution, instead it actually looks like a massive bull flag - in elliott wave theory terms, i'll call it a double or triple three - hard to say for now, since it is only halfway through this flat corrective phase.
my low ball long term upside target for iwm is at $335, high ball would be $375
this is in confluence with my 12 year spy analysis, you can view it down below:
ps. flat corrections can take a really long time to resolve, so i'd wait for a definitive break out, and a retest of the entire channel that it's in right now before attempting to play that upside swing.
Russel 2000 Continuation TradeIn this update we review the price action in the Russell break out trade and identify the next high probability trading opportunity
RTY - possible tradeIt's a choppy friday.. Russell is holding up well.. looking for a break below to sort.. May decide not to take trade this late of Friday...
RTY1!11.9.21 Russell 2000 Looking at the subtle and not-so-subtle clues of a raging market expanding higher. Bobby's Homework Assignment.
Russell 2000 Futures Headed To 2668?Exactly one year ago this month the Russell 2000 broke out to new highs and many were calling it the November to Remember as the RTY had an all-time record 18.4% monthly total return This November the Russell 2000 is also breaking out to new highs and on my strategy the look is exactly the same as last year. Will this be another November to remember? I think so, but I don't think it will be an 18.4% rally like last year. I do think that the RTY could rally 10% and look to test 2668 before the end of the year. I use Bollinger Bands with 20 period, 3 standard deviation settings along with a simple 10 period simple moving average on a weekly, daily and 60 min charts as my strategy for this long swing trade.
RTY UpdateThis is what I mean by pump and dump, look at the sell volume in the morning.
The algos have managed to convert futures trading into a pump and dump scheme and teh dip buyers are letting them make their money, lol. Small caps still flat despite the dump. Sideways action until the dip buyers are gone.
Watch MFI though, as soon as it goes oversold we'll see another pump
RTY1! (Russel 2000 fakeout or breakout) ? - Fakeout so far.(Opinion only)
Just a chart, think for yourself. :)
RTY longLong RTY
After consolidating of roughly 185 days, it looks like the RTY is ready for a nice break out
First target 3463 zone
Second target 2600 zone
Invalidation day close below 2284
RTY UpdateMFI went overbought as expected, but RSI didn't because of the indirect effect from AAPL and AMZN miss.
Could go either way Monday
Russell2000 Trading Wave 5 In this update we review the set up for a wave 5 extension in the Russell
RTY UpdateLooks to me like it wants to go overbought again. I told you guys yesterday it was oversold.
Small caps probably rally tomorrow since it's Ponzi Friday, ES and NQ direction will depend on AAPL and AMZN earnings, but I'm stating teh obvious.
RTY1! - Wedge Back-TestThe Yearly Bull Flag continues as The Russell 2000 consolidated back to test the wedge pattern. Guided down today by the 2 hour 8 EMA, the Bollinger Bands have opened up and fallen away. Support was found at the Daily MBB.
RTY MFI oversoldRTY MFI oversold, not sure if RSI also needs to go oversold, but looks like a pump tomorrow
RTY UpdateThe only index that actually looks bearish, RSI dropping with MFI.
Could be a mixed open tomorrow. Tech depends on earnings
RTY UpdateSmall caps getting pumptarded. Target is around 2400 around next Wed, but there's a chance it could get rejected at 2350 resistance.
Note that it's close to overbought again, but market doesn't care during a melt up.
Not posting any other indices because all I'm gonna show is a melt up.
RTY1! - Back Into CompressionThis pattern is nearing an apex, with Opex in the rearview the rotation between NASDAQ the Russell on top watch; driven by yields and the 10 year note.
Futures Levels | Head Fake Or Higher? (ES, NQ, ZN, GC)It's nice when a projection comes together. Last week, our outlook suggested that we could see rates breakout, which would likely lead to broader stock index futures weakness. We got it half-right. Rates did breakout, but the rate rise ended up looking more like a head fake, so the selling was contained, with Friday even seeing a strong rebound.
This week there's not much to go on with earnings still a few weeks away. We'll be watching the BTC $50K level, 4400 ES, and if Gold can hold 1750.
