Russell 2000 Index, Weekly Daily Chart Analysis For Jan 4, 2021Technical Analysis and Outlook
The small-cap Russell 2000 was the big star this week with a decent 5.9% gain. The index on its way to Key Res $2,112 , and our Inner Index Rally $2,140 respectively, also, Outer Index Rally $2,180. The short term downside support is tapped at Mean Sup $1,950 providing an excellent ball out buying opportunity. To continue the rest of the market story, see the 'Weekly Market Review & Analysis For January 4, 2021" at the usual site.
Smallcaps
Promising Project Bad Timing To start this chart looks great, looks...
There are currently 46.6M coins in the circulating supply.
Starting tomorrow ~2 hours from now the remaining ~442M coins will be unlocked and distributed to SAFT Investors, Validators and Founders.
(The Solana team likes to say they are transparent, but information given here: solana.com is severly lacking)
A large portion of these coins will locked from trading for the upwards of two year, needless to say the coin supply will still be diluted starting tomorrow.
I personally will be entering a large position, after the market crashes, laddering into my position.
(I'm already in a small position presuming I've interpreted their transparency report incorrectly)
Good Luck and Safe Trading.
Tagging trendline connecting high pivot of 2015 & 2018The Russell 2000 ETF (IWM) is surging over 4% as Democrats likely take control of the Senate. This gives Biden control to push through more stimulus. Interest rates surged through 1% on the 10 year yield. Not only is the Russell 2000 full of small caps, but also banks. Banks rally as yields rise.
IWM is also tagging a trendline that connects the high-pivot of 2015 & 2018. Could this be a pullback level? Going in on a half-position, possibly adding if things turn favorably (sub-$200). Shorting shares is the safest route, but February/March $190 puts have a nice risk/reward at this level. Not financial advice.
Happy trading.
Hidden Gem for investment - Sudarshan ChemicalSudarshan chemical is forming extremely bullish patterns.
below are the reasons which corroborate my hypothesis
a)The multi-year trendline is at 500 levels.
b) Cup & Handle pattern is on progress right now
c) Bullish hidden divergences can be seen
d) Weekly price closing above 505 will bring STRONG momentum on the stock
My target for this stock is in 4 figures.
XpresSpa Group Inc $XSPA - Investment idea 💡 This is not just a penny stock, but also a good investment for long term, however if you're not planning to hold for long term, then I suggest you to take profits on each target level.
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Do your research and trade on your own risk!
$NNDM Long PositionHas some trouble breaking out of triangles after run up. I'm thinking a breakdown of the current triangle, pullback to 5.85 supported at previous resistance, brief consolidation and a move up. Has consistency in the RSI bull zone. Offering at $6 earlier this month is behind them now and well capitalized for a while at current burn rate. Market responded positively to it.
Verasity strong recovery followed by a bullrunVerasity is an amazing project with very strong fundamentals and only a ~$3m marketcap. There are multiple important support and resistance levels to watch. Right now we are on the final dip before it starts to truly recover. If it gets as low as 2.3 - 2.4 sats, buy the dip like your life depends on it. Then sit back and watch it go parabolic :) Weekly is also showing bullish engulfing, and VRA/USDT on the weekly is one massive Adam & Eve pattern. In case altseason starts next year, this little gem has 100x potential. DYOR!
Utrust Market overview.Utrust has lot's of potential. I've been following this project closely and looking to invest more, as I believe in this company.
At the moment of talking I have 1200 UTK tokens staked in my Hold app. I think time will tell more if this project will skyrocket or not.
Keep in touch.
Kardiachain/USDT primed for breakoutFull disclosure KAI is a large portion of my portfolio and none of this is financial advise. KAI has been going through a correction and consolidation since hitting ATH in August. Those of you who owned KAI or were observing over the summer know when this one runs it's a sight to behold. Although it might seem that KAI has already broken out from correction the chart will show it hasn't yet and is only priming for a nice breakout. Below are some of my observations.
1. Symmetrical triangle is prime for a breakout. As you know breakout can occur to the upside or downside and usually occurs at the 3/4 mark, i.e. any day now. Everything is pointing to a breakout to the upside but anything can happen.
2. Crossed to the upside of Ichimoku cloud a few days ago and has maintained support on top of the cloud. Leading cloud has also flipped green.
3. Volume profile shows POC (point of control) at current price of 0.016. Possible flip to support as it's been riding this level for a few days now. Once breakout occurs first level of resistance is 0.018, this is most likely the level the retest starts. If retest is confirmed then next resistance is at 0.023. After that level breaks it's going to fly and ATH will be in play as not much resistance is above 0.030.
4. MACD is set to flip green
5. KDJ is green and looks to continue
6. RSI has a lot of upside potential
7. Volume has started to come back, as they say, volume precedes price
FISHY moves in the STOCKMARKETHey tradomaniacs,
Current markets mood is harder to indentify as we see the same cashflow like we`ve seen with the first vaccine-wave this year.
Comparing RUSSELL 2000 and SPX500 it looks like we see a flow out of big companies into the small-cap-section.
This is very weird as the small businesses were those who suffered the most during the COVID-Lockdown in the USA.
Does the market expect a BOOM of these companies with the upcoming vaccine?
There is one fact:
More than 50% of these companies listed in RUSSELL are not making any profit 👉 They are the "zombies" of the market who are only able to survive due to financial injections by the central bank.
These odd moves are forcing me to trade a bit less as I don`t think that institutional traders are willing to buy stocks of companies that only just able to buoy up.
Sell off coming soon?
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
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Any questions? PM me. :-)
STRANGLE FOR PROFITThis year has been one of the best to be a (smart) trader. We've had absolutely historic opportunities and I'm sure there's more to come. This little ascending wedge (abcde) could be creating an opportunity for a strangle (long & short). I have several strategies I follow for the other indices but I will occasionally play a strangle where I can see it going either direction. Personally, I may wait until (E) is tagged and will buy a long position in calls and hedge that position with puts. There are other ways to play the breakout but I prefer to buy at (E) and wait until a target is reached (up or down). I also like to use options that have a medium term expiry (5-6 months out) so decay and noise aren't too dramatic. Let's see what happens!
Long Potential on MMJ - Continuation OpportunityMMJ is shaping up. The market has opened poorly this week leading into US Elections, however If we see the appropriate execution signs, we may look to get involved in this play.
Imdex - Nice looking chart - High probability!Key Techincals - High probabilty asc triangle formation. Key Fundamentals - minerals exploration likely one of the key sectors that drives international post covid growth + cutting edge cloud based software allowing clients to make more real time actionable decisions.
EN1 - Upside Potential Upon Strong Weekly CloseEN1 has been on my watchlist for a while. The fundamentals of the company have strong potential going forward however we have some initial dynamic supply to break through.
EN1 closed above the long term downtrend on Friday last week. If this current base holds, we could see upside in the future.
Looking forward to the next few quarterly's as the company recovers from Covid impacts.
October 17 Market Update | Technical, Fundamental, NewsDescription:
An analysis for the week ahead.
Points of Interest:
Prior ATH, Poor Structures, $3,500 and $3,370 High-Volume Areas.
Technical:
Broad-market equity indices ended the week higher with S&P 500 retracing more than 80% of its September sell-off.
During Last Week’s Action: Alongside fiscal stimulus hopes, U.S. index products surged past and built value above a major high-volume concentration as initiative participants (i.e., those buying within or above prior value) showed continued confidence to explore higher.
As the week progressed, however, Johnson & Johnson (NYSE: JNJ) suspended its vaccine trials and expectations regarding further stimulus tempered. The weakness was exacerbated by the prior week’s emotional activity which attracted an enormous amount of speculative derivatives activity and left behind poor structures that offer little-to-no support; as the monthly options expiry neared and dealers unwound their hedges, the market endured a quick correction of the poor structure.
Overall, the market remains out of balance and higher. Barring some exogenous event -- such as negative news regarding added stimulus, vaccine progress, and the election -- there is good potential that the market continues exploring higher with an obvious target being, in reference to the S&P 500, the prior all-time-high.
Fundamental:
In its 2020 World Economic Outlook, the International Monetary Fund (IMF) raised its expectations on global growth, but cut long-term forecasts on a slower recovery.
"The scarring is expected to compound forces that dragged productivity growth lower across many economies in the years leading up to the pandemic — relatively slow investment growth weighing on physical capital accumulation, more modest improvements in human capital, and slower efficiency gains in combining technology with factors of production,” the report said. bit.ly
Adding, according to Axios, the hard part of the recovery is just beginning; the IMF is urging governments to keep financial lifelines open; "I worry most about withdrawing support to workers and firms prematurely because it could cause a wave of bankruptcies and massive increase in unemployment," IMF head Kristalina Georgieva said during a media appearance.
Key Events:
Monday: Fed Chair Powell Speech, Fed Williams Speech, NAHB Housing Market Index, Fed Clarida Speech, Fed Bostic Speech, Fed Harker Speech.
Tuesday: Building Permits, Housing Starts, Fed Quarles Speech, Fed Evans Speech.
Wednesday: MBA Mortgage Applications, Fed Brainard Speech, Fed Mester Speech, EIA Cushing Crude Oil Stocks Change, EIA Distillate Stocks Change, Fed Beige Book.
Thursday: Jobless Claims, CB Leading Index, Existing Home Sales, Fed Barkin Speech, Fed Kaplan Speech.
Friday: Markit Manufacturing PMI Flash.
Recent News:
Data points to reduction in economic activity on virus restrictions. bit.ly
Despite the virus, structured finance ratings have remained stable. bit.ly
Bank earnings soar again alongside increasing trading revenues. bit.ly
Delta Air Lines Inc (NYSE: DAL) still burning cash amid recovery. reut.rs
EU makes 1 billion-euro bet on Gilead Sciences (NASDAQ: GILD) reut.rs
BP Plc (NYSE: BP) leaving emerging market oil, but could return. bit.ly
BlackRock Inc (NYSE: BLK) beat estimates on strong inflows. reut.rs
JPMorgan Chase & Co (NYSE: JPM) optimistic on virus recovery. reut.rs
With economy and credit rolling along, Fed unlikely to alter buying. reut.rs
Big technology companies nervousness prompts calls to diversify. reut.rs
U.S. retail sales blow expectations in September amid recovery. reut.rs
Gulf Coast energy companies restoring oil, gas output post-storm. reut.rs
Caterpillar Inc (NYSE: CAT) is betting on self-driving machines. reut.rs
New Apple Inc (NASDAQ: AAPL) iPhone to offer non-material 5G. reut.rs
Tesla Inc (NASDAQ: TSLA) cut prices of Model S in U.S., China. reut.rs
Used vehicles again lift U.S. consumer prices, but inflation cools. reut.rs
U.S. consumers more optimistic about the labor market, says Fed. reut.rs
As the globe gallops into vaccine trials, insurers remain unfazed. reut.rs
U.K. minister is seeking cash from the Treasury for a no-deal Brexit. reut.rs
Despite economic and health crisis, consumers defy expectations. bit.ly
How the market learned to stop worrying and love the blue wave. reut.rs
Fed officials calling for tougher regulation to prevent asset bubbles. reut.rs
Citadel Securities has sued the SEC over a new trading mechanism. reut.rs
Moody’s downgrades U.K. as COVID-19 and Brexit hit debt outlook. reut.rs
Newly rated loans from high-yield issues rose for the second month. bit.ly
Funding to North American startups held steady in Q3 as exits rose. bit.ly
The President does not actually impact the economy as thought. bit.ly
U.S. gun sales soar amid pandemic, social unrest, election fears. reut.rs
Facebook Inc’s (NASDAQ: FB) Libra tapped an ex-HSBC executive. reut.rs
Trump urges big COVID-19 stimulus, but Mitch McConnell disagrees. reut.rs
U.S.’s weakest local economies may face worse from the pandemic. reut.rs
G20 pledges to do ‘whatever it takes’ to support the global economy. reut.rs
Fed’s Clarida says data 'surprisingly strong,’ but deep holes remain. reut.rs
IEA: Oil producers may struggle to gauge demand amid second wave. reut.rs
Moody’s Corporation (NYSE: MCO) sees virus credit losses rising. bit.ly
Key Metrics:
Sentiment: 34.8% Bullish, 29.5% Neutral, 35.7% Bearish as of 10/14/2020. bit.ly
Gamma Exposure: (Trending Lower) 3,113,195,433 as of 10/16/2020. bit.ly
Dark Pool Index: (Trending Neutral) 41.1% as of 10/16/2020. bit.ly
Disclaimer:
This is a page where I look to share knowledge and keep track of trades. If questions, concerns, or suggestions, feel free to comment. I think everyone can improve, especially me.
In no way should this post be construed as investment advice.
$CEI 133,442,000 Barrels of Oil Reserves PT $10.00As of March 31st, 2020 the company had an estimated proven oil reserve of 133,442,000 barrels of oil comprising of
54,850 million barrels of crude oil reserves - 43,955 million barrels of NGL reserves and 207,823 million cubic feet of natural gas reserves.
The company also has upcoming merger with the Viking Energy Group Inc. which is estimated to close within the next two months.