Russell Futures ( RTY1! ), H4 Potential for Bullish ContinuationTitle: Russell Futures ( RTY1! ), H4 Potential for Bullish Continuation
Type: Bullish Continuation
Resistance: 2033.0
Pivot: 1909.8
Support: 1832.2
Preferred case: Looking at the H4 chart, my overall bias for RTY1! is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. Expecting price to retest the pivot at 1909.8, where the overlap support is before heading towards the resistance at 2033.0, where the previous swing high is.
Alternative scenario: Price could head back down to break the pivot at 1909.8, where the overlap support is, before heading towards the support at 1832.2, where the previous swing low and 38.2% Fibonacci line is.
Fundamentals: There are no major news.
RTY1!
RTY chart, held support where it had toRTY chart, held support where it had to, at the must-hold resistance now
There is a pathway for the overshoot/fake-out move I mentioned before; there is time till the Fed meeting.
Its at a perfect r/r for a swing short.
I might post one more chart tomorrow.
Good night
RTY partial update for the next Jan 16th week I hope everyone is having a great weekend.
RTY is in the bull channel all week, similar to NQ’s rising wedge.
As you can clearly see, RTY is way oversold on the 4h chart (MACD, RSI); this will get a strong rejection of the next resistance zone imo
Looking at the cycle,s we still can push into Tuesday am open to test the major trendline around 1915-18 (depending on landing time). At the same time, it can fall apart straight from the open.
I think we extend on Sunday (gap up?) or into Monday (Futures will be trading open till noon)
- The primary support and target for the next week is 1847-52, from where (if it holds by the 20th) we should see a last push up into the Jan 24th high.
If that support is broken, it should test the 1800 level and below next.
- The target box for the final move-up is at 1542.5-1952.5RTY.
........
SPX and NQ will be updated on the site
Enjoy your weekend
RTY UpdateWaaaay overbought but it does have a cup and handle pattern going on. I think we get a reversal tomorrow and a dip Tuesday.... or maybe a dip tomorrow, I dunno.
CPI was bullish but I don't chase overbought markets. Will decide what to do Tuesday. Bought some PDD puts just so I watch the market tomorrow. Just guessing that Asians were the ones dumping futures in the afternoon.
RTY is setting up for a strong move downIm not currently trading RTY, but it has the weakest structure out of 4 bog indexes.
With the today's rally, RTY rallied the lest compare to the ES and NQ, where ES was leading on the upside, while NQ gave up less when it started to sell
For those who trade RTY, there is a great short setup is setting up
RTY updated chart from yesterday's postThe price is above Monday's high, which suggests one more push going into the CPI numbers
I have mentioned also in my SPX , NQ and ES updates about the possible inverted OCT 13th CPi release move tomorrow.
A Gap and Crap full report was posted last night and updated today
RTY Short IdeaThe RTY one hour time frame is in a channel. The
market is near the top of the channel. As long as
the market stays below the top of the channel. It
is expected the market to push bearish towards
the bottom of the channel.
Entry: counter trend line break bearish
below the top of the channel.
STOP: In the buy zone above the entry.
LIMIT: 1756.7
Once or if the one hour time frame gives the
entry. As long as the market stays below the
top of the channel. It will be a good idea to
turn to the five minute time frame and look for
tunnel trader short, chandelier trader short,
and or destination trader short ideas towards
the one hour price target.
o' man o' man.if i'm right about this, so many people are going to so devastated.
most market participants are already completely and utterly distraught,
this rally could just simply set them over the edge.
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i'm theorizing a full blown rally in the months ahead, right into april \ may.
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russel200 expanded flat target sits right a the 1.75 algo, which is roughly at $2392
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please don't treat this as financial advice.
consult your financial advisor before making any decisions in this market.
RTY UpdateRSI hit oversold on RTY, ES, and NQ. MFI hasn't yet, so gonna wait to see what happens tomorrow.
My guess is still gap down and reversal tomorrow, but the gap down might not happen since RSI is already oversold. My favorite plays still look like crap and AAPL is falling off the tree, so no long positions until tomorrow and even that is a maybe.
Russel2000 Bear Case.Good evening,
This post is part of a series of requests i recently received.
The request was: "What is your bearish projection on the US stonk market".
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The russel2000, if I'm not mistaken -
has thousands of small-cap stocks within it,
here's my bearish projection for it.
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My estimated top for the russel2000 = $1876 ~ $2392
High probability target = $2036
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My estimated bottom on this one is roughly between $1527 ~ $1163
High probability target = $1324
🔺
NYSE Index Bear Case.Good evening,
This post is part of a series of requests i recently received.
The request was: "What is your bearish projection on the US stonk market".
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Some may ask,
what is the NYSE Index?
👇
The NYSE Composite is a stock market index covering all common stock listed on the New York Stock Exchange,
including American depositary receipts, real estate investment trusts, tracking stocks, and foreign listings.
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My estimated top for the New York Stock Exchange Index sits at $15,546 ~ $18,545
High probability target = $16,600
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My estimated bottom on this one is roughly between $12,293 ~ $10,064
High probability target = $11,319
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🔺
Nasdaq Bear Case.Good evening,
This post is part of a series of requests i recently received.
The request was: "What is your bearish projection on the US stonk market".
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Well, this right here is my primary bear case for the Nasdaq. Keep in mind, this is just a single bear case from my perspective; there's always many different potential outcomes, and it's my duty to discover them, and share them with you - the trader.
>Just because you are seeing this picture here today, does not mean this is what will happen .
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Tuesday November 29th 2022 ~ December 21st 2022 = my calculated top for the Nasdaq.
Estimated to sit between $13,016 ~ $15,308.
High probability target = $13,697.
ps. if money rotates, or a proper catalyst appears, nasdaq could squeeze up to some of the higher targets on my chart to create a regular or expanded flat.
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Friday May 12th 2023 ~ Tuesday October 24th 2023 = my calculated bottom.
Estimated to sit between $9449 ~ $7361.
High probability target = $8085.
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🔺
Let's learn about flats.good evening,
in preparation for my next few bear posts,
i'd like to talk about the three different types of flats in the markets.
the main reason why i'm bringing this up right now,
is because the USA Indexes are displaying all three of these patterns currently,
so it's important to familiarize yourself with these fractals, for future references.
feel free to share this with your peoples if you find it helpful.
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regular flats :
• A corrective 3 waves move labelled as ABC
• Subdivision of wave A and B is in 3 waves
• Subdivision of wave C is in 5 waves impulse / diagonal
• Subdivision of wave A and B can be in any corrective 3 waves structure including zigzag, flat, double three, triple three
• Wave B terminates near the start of wave A
• Wave C generally terminates slightly beyond the end of wave A
• Wave C needs to have momentum divergence
Fibonacci Ratio Relationship
• Wave B = 90% of wave A
• Wave C = 61.8%, 100%, or 123.6% of wave AB
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expanded flats
• A corrective 3 waves move labelled as ABC
• Subdivision of wave A and B is in 3 waves
• Subdivision of wave C is in 5 waves impulse / diagonal
• Subdivision of wave A and B can be in any corrective 3 waves structure including zigzag, flat, double three, triple three
• Wave B of the 3-3-5 pattern terminates beyond the starting level of wave A
• Wave C ends substantially beyond the ending level of wave A
• Wave C needs to have momentum divergence
Fibonacci Ratio Relationship
• Wave B = 123.6% of wave A
• Wave C = 123.6% – 161.8% of wave AB
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running flats
• A corrective 3 waves move labelled as ABC
• Subdivision of wave A and B is in 3 waves
• Subdivision of wave C is in 5 waves impulse / diagonal
• Subdivision of wave A and B can be in any corrective 3 waves structure including zigzag, flat, double three, triple three
• Wave B of the 3-3-5 pattern terminates substantially beyond the starting level of wave A as in an expanded flat
• Wave C fails travel the full distance, falling short of the level where wave A ended
• Wave C needs to have momentum divergence
Fibonacci Ratio Relationship
• Wave B = 123.6% of wave A
• Wave C = 61.8% – 100% of wave AB
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-- full credit to elliottwaveforecast for all of these guidelines
RTY is at 200MA max resitance level is from 1900-19005Should not get above 1905 on any test for much lower numbers to be seen next year.
If it holds, might get below 1500 early next year.
Will short 1900-02 zone with a 10-15 points stop.
ideally we see a good move down to at minimum revisit pre CPI day close
RTY Daily MFI overboughtSomething I noticed while flipping through some charts, RTY1! daily MFI is overbought along with GM, PCAR, YM1! (Dow futures), Dow components like WMT, CAT, YNH, etc along with XLF (financial ETF).
Definitely not chasing a Fed pump even if my 3 hr indicators show oversold. My favorite stocks are overbought, that's a signal to take a pause. Will be shorting when 3 hr indicators go overbought.
Russell1806 Target Achieved..New Pattern DevelopingTechnical & Trade View
Russell 2000 (e-mini futures contract)
Bias: Intraday Bullish Above Bearish below 1785
1806 Target Achieved..New Pattern Developing
Technicals
Intraday 1785 is primary support
Primary upside objective is 1882/92
Failure below 1780 opens a test of 1760 H4 Value Area High
20 Day VWAP bullish, 5 Day VWAP bullish