RTY1!6.20.22 RTY1!: how to use the time frames, etc.......................................................
RTY1!
RTY1! - Weekly Market Update, 6/20/22Russell Futures have triggered a short opportunity based upon last week's price settlement. I've detailed my ideal entry, stop loss and targeted areas on the chart.
I've also updated support and resistance structures for your reference. Wishing you a blessed and profitable week ahead!
RTY MFI almost overboughtGeez, it would have been an easier trade if they left everything oversold until the Fed meeting.
All indicators neutral except RTY MFI is almost overbought. ES overlay suggests we could see another dip before the meeting tomorrow.
Flipped my COIN puts on open for a wash this time because I saw the Euros were pumping futures. Staying cash until tomorrow morning, might just wait until after the press conf to confirm the next pump, lol.
Keep in mind there is still a gap above.
Russell2000 Pivotal Equality TestIn this update we review the recent price action in the Russell200 futures contract and identify the next high probability trading opportunities and price objectives to target
RTY1! - Weekly Market Update, 6/13/22Russell exhibiting weakness, looking for near term support @ 1765.
Russell 2000 Bear Trend
Well.
1) Macro bullish symmetrical triangle fakeout leading to top signal.
2) Low volume on bullish break, High volume on reversal confirming fakeout.
3) Omicron Variant market reaction =~= Covid-19 market reaction
See SPY fakeout before March 2020 Covid-19 crash. (right)
Lastly, see bearish divergence between index and % of stocks above 200 ma (orange).
RTY MFI OversoldRTY MFI is oversold, the other indices are not even close.
Market did rally off RTY last week, so I flipped all my puts. Gonna sit back and watch now, since I'm not sure what the market is gonna do.
RTY - Resistance (0.5) Turned Support0.5 is acting as a support now as price has moved way above it, prior to this it was a resistance point as price tested it
This bullish assumption is supported by the RSI, showing an Inverted H&S pattern, just completing the Right Shoulder
This 0.5 fib line should act as a support now
RTY UpdateChart pattern and indicator directions looks bearish.
NQ MFI is oversold though, which is why I didn't comment earlier, was expecting a sector rotation day. Now NQ looks weak despite being oversold.
Looks to me like strictly an Euro futures pump, if futures sell off then garbage stocks are toast. They didn;t rally with the market at all.
Indices forming an intraday pennantAppears to be an intraday pennant on the 4 major indices (SPX, NDX, DJI, Small Caps). Could go either way either way Monday.
I just have some PTON puts because it's total garbage, but even garbage will float on a rising tide. just a small play.
In any case, I don;t expect the market to do anything in the last hour, but we'll see. My futures indicators are still trending bearish.
RTY UpdateRTY and NQ MFI are overbought and it's starting to look a lot like my overlay.
We'll see what the algos do premarket, but looks pretty bearish, Euros did not pump as I expected.
Stocks Surge Ahead of NFPGreat groundwork in stock indices all week, terrific technical patterns developed to usher strength, and leadership from Tech. Let's take a look at the landscape ahead of Nonfarm Payroll.
Russell Targeting A Trendline TestIn this update we review the recent price action in the Russell futures contract and identify the next high probability trading opportunity and price objective to target
RTY Update (MFI very oversold)Small caps got rejected by resistance (the old support), I think it drifts sideways and then eventually collapses again.
After I saw this plot I flipped all my puts, will re-enter when RTY challenges the resistance again.
RTY Daily Support Shows it is holdingThe RTY Daily time frame is in a down channel. The
market hit the bottom of the channel and found
support. The market is now pushing bullish towards
the top of the channel price point 1936.2 about
+803 ticks above the market. It will be a good
idea to turn to the one hour time frame and to
look for long ideas in the buy zone.
Is Momentum Shifting in Stocks Hands?A strong day for indices, ES, NQ, YM, RTY, what do we need to tell us momentum is shifting hands? I also cover the individual stocks I am watching most closely heading into the final trading day of the week.
Recession? Then Why is the RTY Outperforming?Usually a slowing in the economy hurts the growth oriented RTY the most. Instead, it is outperforming.
Russell Testing Pivotal ResistanceIn this update we review the recent price action in the Russell2000 futures contract and identify the next high probability trading opportunities and price objectives to target
RTY DailyOversold on RSI and MFI, and it hit my target line which is the price level pre-COVID
Old resistance is new support so I expect a bounce around here, some garbage stocks are green already today
Russell2000 Trading The Wedge PatternIn this update we review the recent price action in the Russell2000 futures contract and identify the next high probability trading pattern. and price objectives to target
ES UpdateES and RTY MFI hit overbought premarket
SHorting garbage yesterday morning was the right call, flipped my RIVN puts for a decent profit. Gonna stay cash until the Fed meeting, garbage stocks are already down 3 - 5%, not worth chasing it right now.
Should've shorted PTON again, lol. What a PoS, SFIXing it's way to single digits. Didn;t think it'd move that much this week.
RTY +1,400 Ticks long ideaThe RTY one hour time frame is in a large side
ways range. The market is at the bottom of the
range. The market is below the short term down
trend line. It will be a good idea to wait for the
market to break and close above the short term
down trend line before looking for long ideas.
Entry: Counter trend line break bullish above
the bottom of the sideways range.
STOP: In the sell zone, below the low that
formed at the bottom of the range.
LIMIT: 2055.7
Once or if the market closes above the short
term down trend line. As long as the market
stays above the bottom of the range. It will
be a good idea to turn to the five minute time
frame and look for tunnel trader long /
destination trader long ideas towards 2055.7
