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.
The Russell index is a SME-oriented index that mostly addresses the American domestic market. This index should generally show parallel movements with the Dow Transportation index. In this respect, we received a good confirmation. Determine the position size in small amounts. For this analysis: STOPLOSS : 1542.5 GOAL : 1743.5 RISK REWARD RATIO : 1/3
The RTY Daily time frame is at resistance. I'm looking for short trades off the one hour time frame. Waiting for the market to enter into the sell zone off the one hour time frame. Market has entered into a small sideways range on the tops of resistance. Waiting for the market to break out of the range. Ideally the market breaks bearish towards support.
Small caps bouncing from an oversold condition, indicators are nuetral, but based on pattern, one would have to assume more pumptardedness next week. One thing though the last few times it;s been at this price level, it just whipsawed sideways for a while, that can happen here too if it falls out of the channel.
With the small caps at long-term range highs and implied volatility at the low end of its 52-week range (rank/implied 10/15.8), it's potentially debit spread time. Pictured here is an /RTY 1610/1620 long put vertical with risk one to make one metrics ($250 max profit/$250 max loss) with a 1615 break even. Unfortunately, markets are wide in RTY, so some price...
With 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...
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...
A strong bullish daily candle confirms the breakout of the significant resistance level. The small caps entered a balance breakout mode. Usually, that would lead to continuation pattern until the projected area top is not reached. The bullish pattern would help the S&P to move higher or at least to remain at the current prices. The small caps offer better upside...
It seems the upside idea started to unfold. With a low volume there is no strong upside move, nevertheless , a breakout remains intact so far. The market can grind up being in the breakout mode for awhile. Traders are advised to buy pullbacks until the breakout is intact. The strength in the Russell helped the S&P, which was expected and outlined in the previous...
The Russell 2000, a true indicator of the broader market strength, is keep testing its major resistance. The original idea that it could offer a better upside reward is still intact. Usually, a support or resistance eventually gives up after multiple testes. In case of the successful breakout the released energy would propel the market - there will be a lot of...
Here is a dissected daily chart of Russell 2000 futures with important levels to watch. As of today, the index remains the weakest among the others. Last week it tested an important trend line but managed to close above it. The index has an interesting behavior that could be used to trader's advantage. For example, it may be in a catch up mode and trend well...
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....
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...
Trend is up still until we lost that lower trend line. We are more than 50% back from the ATH and the sell off reversal area. Love that little doji that formed on Friday. We most likely break in the direction of the high or low with strength. My upper target on RTY is 1530.7 then 1560 area. Lower areas of support 1498-1500, lower 1478-80, and 1465 (and 18 day...
The Russell 2000 futures, that represent small caps and broader market strength, is primed for a directional move. A mature multi day balance has a potential for a breakout to upside. The upside target levels are marked. The related indices just broke to upside today. The Russell has a potential to catch-up.