Rty1
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.
RTY whipsaw continuesStill doing the rangebound whipsaw, looks to me like it goes overbought by Tuesday and drops back down.
Small caps have a tendency to fill gaps (on the index, not futures) so maybe it fills the gap then cycles back down. If anyone has a good way to predict this whipsaw, I'd like to hear your theories.
Market Dashboard - RecapWith NAS and SPX making Lower Lows it time to be on the look-out for RSI Divergences, Volume and a reversal pattern. The prospective i-H&S pattern on NAS was swamped by Russell confirmation of a H&S: as the Vix breaks out a pennant. The game changes Vix +20, in this case resistance is being met with instant selling pressure.
ES updateWell, I had to take mom to teh airport so I missed all teh fun.
I said yesterday that today would be a pump and dump, only they left out the pump, lol. MFI almost oversold, RSI not there yet. Of course they can do the same thing they did this Monday....
No idea which way the market goes Monday, hoping it goes oversold and I'll buy some calls. Staying cash, there's no play here, too late to do anything.
RTY Daily Range Looking For Long IdeaThe RTY daily time frame is in a large sideways
movement. The market hit resistance price point
2302.4 and is now falling towards support price
point 2113.3. It will be a good idea to look for a
bullish U-turn the closer the market gets to
the daily support price point 2113.3.
I plan on turning to the one hour time frame
and looking for a bullish trend to form near the
daily support.
Futures Levels | Week Ahead Sept 19 (ES, YM, NQ, RTY, ZN, GC)Yoooo Speculators - let's look at some levels in the futures stock indices following a telegraphed week of selling into last Friday's quad witching.
Overall, the markets have cooperated with our most recent analysis that suggested shorts in the NQ and ZB. Now, I'm gonna go out on a pretty firm limb (you know, since markets never go down), and say that we're probably close to the end of the selling in this cycle.
FOMC policy statement on Wed.
Trade Like You Mean It!
ES UpdateDoesn't show up well on the 3 hr chart because it reversed so sharply but MFI did hit overbought. I mentioned it on my RTY post yesterday and if you look at the RTY1! chart, it clearly goes overbought, so did YM. RSI having trouble holding above 50 like I mentioned earlier this week.
Tomorrow is Ponzi Friday plus quad witching. Expect the gap to close and big whipsaw regardless of which way the market gaps.
Indicators now neutral so hard to say which way this goes tomorrow. Will update only if I see anything. Not feeling very bullish or bearish today at this point.
RTY: One Hour time frame BullishThe RTY one hour time frame is in an up channel.
The market hit the bottom of the channel and
showing signs of pushing bullish towards the top
of the channel.
Entry: Counter trend line break bullish above
the bottom of the channel.
STOP: 2201.8
LIMIT: 2325.00
As long as the market stays above the bottom of
the channel. It will be a good idea to turn to the
five minute time frame and to look for tunnel
trader long / destination trader long opportunities.