RTY UpdateOversold but that doesn't seem to matter anymore. Broke the support line today
If this is a bear flag or any other 2 step move then it appears small caps could tank until the Fed meeting. Then a Fed meeting pump.
Anyone wanna guess what the overlay is? Note, I did not change the time scale at all.
Rty1
RTY One Hour Long IdeaThe RTY one hour time frame is still in a down
trend. The market is making lower lows and
lower highs. According to the daily time frame.
The market is expected to push bullish towards
2314.5 about +1,412 ticks above the market. It
will be a good idea to wait for the one hour time
frame to break the short term down trend line
and enter into the buy zone. Before looking for
long ideas.
Entry: Counter trend line break bullish in the
buy zone.
STOP: In the sell zone.
LIMIT: 2314.5
Once or if the market enters into the buy zone.
As long as the market stays in the buy zone. 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.
ES1! - Opex Week Preview in 3DYhe 10Y Note Yield Gained 4.8% on Friday, topping out at 1.79%. The echoes from the pundits are calling for a return to value as high beta-growth has seen continued pressure, with ARKK leading the declines. NQ1! defended it's 4h Higher low on Friday with a hammer but remains in a 4h Real-Body Bear-Flag. In contrast RTY1! (Russell 2000) and YM1! (Dow Jones Industrial Average), set lower lows before their bounces. RTY1! is in a 4h bear channel, approaching the upper-bound. Vix lost steam at 22 finding support at 19. For consolidation to continue the path is a Daily H&S neckline break, in the most recent test of the largest expansion in the History of the Federal Reverse's Balance Sheet. This looks like a middle, with major markets offering divergent clues. Opex weeks have a way of offering abrupt clarity.
RTY One Hour Long +1,412 TicksThe RTY one hour time frame is in a down trend.
The market is making lower lows and lower highs.
The larger time frame shows the market should
push bullish towards the monthly up future
resistance price point 2314.5. It will be a good idea
to wait for the one hour time frame to break the
down trend line and enter into the buy zone
before looking for buying ideas.
Entry: Counter trend line break bullish in the
buy zone.
STOP: In the sell zone
LIMIT: 2314.5
Once or if the market enters into the buy zone.
It will be a good idea to turn to the five minute
time frame and to look for tunnel trader long /
destination trader long ideas towards 2314.5
Meanwhile, small caps...Small caps appear to be melting up, the index tends to fill gaps and there's a gap at my red line. Note that it's an index gap and not a futures gap so there's no guarantee on this one. Also, it's tagging along the overbought zone so it can tank at any time.
I'd stay away from garbage stocks though if you;re going long
Santa is still here! $SPY
looks like Santa is still here!
Cup & handle on futures playing out beautifully. As long as we hold above supply overnight I don’t see anything stopping us from making more all time highs tomorrow. Daily also looks amazing after consolidating and retesting the 9 EMA for continuation.
Wanna buy the dip if this retests and holds 4789-4784 above supply (9 EMA)
Swing targets above ATH for
$SPY: 480, 482, 485
RTY UpdateOverbought on RSI with MFI divergence but I think it goes up until MFI gets overbought. Probably a 3 day pump and short squeeze again. (Just guessing at this point) Staying out until Monday afternoon. I'd rather short garbage than go long on them.
Gonna be a ton of short opportunities next year I think
Trading Range on Nasdaq 100 FuturesWe are in Trading Range on the Russell 2000 Index Futures.
Like and Comment will be hugely appreciated, thank you so much for your support.
See other ideas below too!
RISK DISCLAIMER:
Trading Futures ,Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight stop loss.
"most fear the unknown" iwm updatemost fear the unknown, and in turn they stay away from it,
i walk into the unknown with confidence, knowing there is always opportunity ahead.
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iwm\rty (small caps) look to be on the verge of finding a big local bottom in this local region here through an expanded flat.
the law of alternation states: "if wave 2 was a simple zig-zag, then wave 4 will have to be a complex correction".
that's precisely what we're seeing here, a little complex correction phase to really shake out the weak hands out of this wicked market.
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wave 4 target = $2067.70
wave 5 target = $2800
NQ MFI OverboughtAll indices overbought on MFI, but not on RSI.
FDAX has yet to fill the gap above so I think the market gaps up again tomorrow. Probably a whipsaw day today though because they gotta sell of a bit to get MFI down. Also a chance of a melt up here, because that's what always happens after a selloff. Lots of stocks hit oversold on daily last week.
es\rty 12\3 update~good morning,
the bulls came in clutch in this last second to put in the fifth leg of a sloppy leading diagonal into wave (1) of a higher degree
this in my eyes confirms a break of downtrend, and the dip that comes is for buying.
expect a deeper dip than usual, as there is still very strong selling pressure, but don't be afraid of it.
i don't think we take out of the local lows.
dip might not come today, but i got a feeling we gonna get it sometime soon.
RTY1! Gold Oil12.1.21 RTY1! Gold Oil: On this video I compared three markets, one of them was contracted and the other two were volatile markets. You do not need to trade many markets to be profitable, but you need to avoid markets that are contracted and don't give you a sense of probability that is to your advantage. Contracted markets are more difficult to have a sense of probability unless they have a fairly well established range with enough distance between buyers and sellers, and that's what will allow you to have a better sense of probability because the vertical range is enough for you to make a decent profit. If you have too many markets that you need to focus on, this can be very counterproductive, and you can waste a lot of time in markets that are likely to deliver a decent risk reward. Most people don't really understand why they can trade profitably for a few weeks or a few trades, and that everything turns sour. They know it doesn't feel right, but they haven't conceptualized with the markets doing. It's a very well-known phenomenon that some traders can have very profitable periods of trading, and then a short time later lose almost all their games. It can be so disconcerting that they will go through cycles of changing their charts and their indicators, but they don't realize the broad difference between expanding markets and contracting markets. This can go on for years. Most traders who start trading, losing the markets, and stop trading. Bobby's Homework Assignment: study the last three or four videos and notice the difference between expanded markets and contracted markets. Make a note to yourself that even in parish markets, even prolonged bearish markets there will be periods of time where taking a long position will be very profitable. This is absolutely a fact. One reason this is important is that most traders are all or nothing, and they're either bullish or bearish, and there is no flexibility in their assessment and their ability to be flexible. Don't Be That Way!