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Russell2000

Sunday Market Outlook - Week 30 Sentiment: SP500: Bullish NASDAQ: Bullish/Neutral Dow: Bullish/Neutral Russell: Neutral/Bearish I make these market outlooks more for myself than for anyone else to have some kind of history of my thoughts prior to the fact. They are in no way trading advice, but should be treated as my views on the market. ES mini Weekly chart analysis My three trend indicating moving averages (20, 50, 100) are still pointing up meaning that there is still upward potential in this market. The S&P500 just broke up to a new all time high, which in my view is also a bullish, although some profit taking might be experienced at these level, which might temper the way up. Last week there was a 9 sell on the MRI indicator, which indicates that there is a big chance of a 1-4 candle correction to the downside. This played out nicely on Monday and some nice profits could be had shorting Monday. But the correction was already over on Tuesday which would have made exiting the shorts hard to time. Because we have reached a new ATH I think the 1-4 candle correction this time only took 1 candle and we can continue the coming week up again, barred the profit taking that might happen at these ATH. Daily chart analysis The daily chart looks very very strong. We broke the break out line and there is a star on Friday's candle indicating a strong buy signal in my opinion. Also all the MA's are sloping up, so we are still in an uptrend on the daily too. Nasdaq mini Weekly chart analysis Last week we had a MRI warning candle warning for an upcoming MRI 9 sell in this case. Therefore there is a high chance that this week we'll get a 1-4 week correction in the NASDAQ and caution should be in place if you are long the NASDAQ. This moving averages are very strong and the angle up of the 20 week MA increased in July, after flattening a little in June. Mainly based on the MRI I expect the NASDAQ to move sideways to meet the 20 week MA and the trendline that started on the COVID crash back in March 2020. Daily chart analysis Although both MRI (starred candle buy) and MA are bullish on the NASDAQ, the fact that we are at the break out line of the MRI, might support the 1-4 week candle correction looming on the weekly chart. Dow Jones mini Weekly chart analysis The Dow Jones is currently trying to break new all times highs as well, but is struggling. Last week we had the MRI buy star and the candle is strong, so maybe we will manage to go higher this week. The weekly MAs are indicating the uptrend is still there and the MA 20 was successfully rejected, so that shouldn't be hindering us seeking higher levels. The MRI extension C also has played out already it seems and therefore is also no factor anymore. Daily chart analysis The picture on the daily chart is almost the same as on the weekly chart. Only thing I don't like here and that might stop an all to sudden move up is the vicinity of the MRI break out line. After some sideways movement of the MAs they also seem to found there way up, which adds to my bullish stance on the Dow as well Russell mini Weekly chart analysis Where the S&P, NASDAQ and Dow seem to walk in lockstep, the Russell has a mind of its own. The picture I see here on the weekly chart is not that bullish at all. The MA 20 has turned sideways since mid June price has been trying to break down the 2200 handle since then. the Russell still was able to hold it, but the last 2 week the attempts to break 2200 became more serious. This time around even the long term trendline stemming from March 2020 was pierced, but it recovered last week. As long as there isn't a second close below the trendline the week right after a break I consider the line still intact, but it weakens the line. That's for sure. Actually I don't think the trendline will be holding that much longer (it is quite steep) and we might go down and visit the 50 week MA. Daily chart analysis The daily chart of the Russell I don't like for a bit. There is a double dead cross. The 20 MA crossing both the 50 MA and the 100 MA in two consecutive days. So there is a high probability that we will find lower the coming days. So that's it for this weeks outlook. I hope it was helpful seeing my views on the market. I wish y'all a happy trading week and remember these are just my views and not trading advice! Always do your own research.
CME_MINI:ES1!
by CoenKuijpers
RUT - Russell 2000 - Breaking for SouthRussell 2000 Outperformed SP500 but now can't hold it's growth are this rally exhaust it's a difficult question. If we look into all Bonds Yields and we can figure out these all are dropping and it should not be happen in growth or inflation time, S&P 5000 Pushing higher but if look inside story Mid and Small caps stocks dropping it means only few giants pushing this index high but in zero interest rate atmosphere if these mid and small caps can not gain means these overvalued or low confidence or some other factors? We need to stay informed and prepare
TVC:RUT
by Deevog
Cup and Handle! Long CRNCI am bullish on CRNC on the basis of a cup and handle formation that offers an attractive risk/reward. The cup and handle is a bit "broken" only because of a gap-up due to CRNC being added to an index. We have now closed that gap at $109 and it appears that the bullish move is ready to continue. I am eyeing two targets for this trade at the 0.786 fib line and near the previous ATH of $139 where it would likely face resistance. Other considerations: 1. This move is dependent on growth stocks, so if Treasury yields rebound and it forces a risk-off market, this trade will likely fail. 2. Earnings are coming up and as we can see, CRNC is volatile, so expect a sharp move following the report. TP1: ~$126 (+16%) TP2: ~$137 (+25%) Published trade statistics: Win Percentage: 6/8= 75% Avg Gain on Wins: 12% Avg Loss on Losses: -13% Weighted Avg P/L % : 5.98% Pending Trades (including this post): 3 - Sultan of Chart *This is not financial advice*
NASDAQ:CRNCLong
by Sultan_of_Chart
Fear of COVID in the market or ..?Since July 5th, 2021, there is a change in the pattern of new Confirmed covid cases in the US, because of the delta variant. From a statistical point of view, there is a significant negative correlation between the Nasdaq composite and the number of covid cases in the US, in the past month. The difference is : 49% of the population are fully vaccinated and 56% received at least one dose! However, we can not deny the fact that could be a trigger for a correction in the markets!
TVC:SPX
by Moshkelgosha
6
SPX & S&P 600 & RUSSEL 2000,which is a leading indicator "2.0"Indexes "Band of Brothers Edition 2.0 " Decoding the relation!!! (No copyrights here feel free to redistribute and spread the knowledge) In a nutshell, divergences between small caps and SP500 index has a kind of leading volatility relation " Heads up" kind of a signal !!! *** When you see minus " -.59 / -.62 " Divergence's reading between SPX & SLY You need to be out of the market period. *** When you see minus " -.48/ -.65 " on RUSSELL 2000'S INDEX you need to be out of the market period. *** SPX 600 has 10 signals Vs. 7 for RUSSEL. ( 3 more signals for SP600) ***SPX 600 has 4 lagging signals VS. 6 for RUSSEL 2000. ( 2 less lagging signals) *** SPX 600 has a Median of 36 days Vs. 57 for RUSSEL 2000. ( SP600 better Median) *** ETFs are slightly better than indexes in the sense that they are more "SENSETIVE. -----------------------------------------DATA------------------------------------------------------------------- Lagging Lagging # SINGNALS # SINGNALS MED.RUS Med.SPX russel spx 600 6 4 6 10 57 36.5 62 2 Percentage SPX'S DAYS FOR A PULLBACK RUSSELL 2000 SPX'S DAYS FOR A PULLBACK S&P SMALL CAP 600 61 36 10% Laggeing by 3 days 2 Days heads up 36 13 35% NO SIGNAL !!! 36 days before Covid 19 57 91 20% Double signals 62 days & 8 days 13 days 28 37 12% 61 days Triple signals: 91 days & 81 days & 38 days 48 35 3% Lagging by 1 day NO SIGNAL 91 28 3% Lagging by 9 days Lagging by 8 days 67 3% NO SIGNAL !!! 37 Days 61 5% Lagging by 7 days Lagging by 7 days 91 13% 36 Days 35 days 4%+10% 1 day + 57 days from double pullback NO SIGNAL 2% Lagging 1 day Lagging 1 day 11% 28 days 28 days 21% NO SIGNAL !!! 67 days 6% 48 days 61 days SLY STOPPED HERE 8% 91 days 91 days IJR USED HERE INSTEAD 31% Lagging during a crash 35 day lagging during a crash 35 day During a crsh NO SIGNAL During a crash During a crash
TVC:SPX
by samitrading
2
S&P500 - About time for a proper retracement??Am just looking at my panel of leading indicators, and besides the S&P500 ES1! daily chart looking a bit stalled with MACD turning down, the Russell2000, DJ Transports and Value Geometric Index are already leading down. Key levels to breakdown are in red circles. Some others like the High Yield Bonds and TIPS are still holding; while the Treasury Bonds are being snapped up (Risk Off mode) Volatility is low, waiting for a breakout. Looks like a storm is brewing...
CME_MINI:ES1!Short
by Auguraltrader
6
RUSSEL 2000 - Bullish formationI´m bullish for the small caps:) The market reached a logical target in the corrective movement. Now i´m looking forward to a bullish impulse to the upside. The scenario remains intact for the time being as long as the market stays above 2214.3. Below that level would be a bearish invalidation. As long as the market remains within this sideways range, everything is fine. Wave 2 would have even more room to correct. So my thesis is that the small caps are starting a small rally once again. That would also correlate with my general assessment of the market.
CME_MINI:RTY1!
by TizTrader
RUSSEL 2000 - Bullish summer rally for the small caps? I´m bullish for the small caps:) The market reached a logical target in the corrective movement. Now i´m looking forward to a bullish impulse to the upside. The scenario remains intact for the time being as long as the market stays above 2214.3. Below that level would be a bearish invalidation. As long as the market remains within this sideways range, everything is fine. Wave 2 would have even more room to correct. So my thesis is that the small caps are starting a small rally once again. That would also correlate with my general assessment of the market.
CME_MINI:RTY1!
by TizTrader