Rty1
Rvx undecided still holding bearishMy guess is the market is waiting for a fed meeting to decide the direction for me Rty looks ready to die a horrible death but we will see.
I'm bearish bias right now until we see some goo price movement in either direction, maybe a lower high on price movement or break down lower on the RVX. sending rty to retestance
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.
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