A bit Higher and then Lower?There should be a bit of upside left but then price should face a strong resistance from the prior support level and also the down trend line from the top !! Let's see
M2K1! trade ideas
1 to 1 correction complete on IWM, looking for a 5th wave and 3kSo many growth stocks look similar in that we see large flat 3 wave corrective action that appears complete to me. This could be the blow off beginning. Typical for 12 months from tightening to top. Maybe its faster this time we shall see.
RTY OverboughtRTY now overbought on RSI and MFI as I predicted earlier this week. Looks like a melt up though, and I hate trading melt ups, no idea when it will end. Tomorrow? next week? who knows...
RTY Still OverboughtMFI overbought but it's still moving up. Maybe RSI needs to go overbought?
Market is just doing some weird stuff this week
RTY - One 30 min cycle has beed driving that rally on TuesdayRTY - One 30 min cycle has been driving that rally on Tuesday
RUSSELL - LONGIf support holds we go up till the red box 1 then sideways to up till red box 2 then waterfall down.
It's been a tough yearHaven't posted much because nice setups are hard to come by. This year has been very volatile so far. I do think we will see more of that in the coming weeks. One thing I have been looking for is for market to form another higher low. /NQ tested the 20sma wasnt able to hold so for tech I am watching what happens there. We could see another test of the lows or this can form a higher low as well.
On the other side I think small caps (RTY,IWM) can be a great short. Been watching this setup develop and I dont care to guess which way it breaks. If it cracks the lower trendline I will short and use that trendline as my SL. Same goes for upper trendline, that breaks and I will go for calls.
The best strategy for right now is to not be biased on market direction. Be flexible and able to change with market sentiment. For the most part I have been scalping and will more than likely continue until we see some sort of a trend develop.
RTY1-IWM-Russell 2000The OVERALL INDICATOR As it moved last week the most to the downside out of all indices. I've highlighted the important zones to the upside (supply zone) and downside (demand zone). Overall I'm expecting a bit more downside (1 to 2% max) drop before earnings and Fed kicking back markets up for a week or two. Mid February . Once Markets go up to 100 ema, i will continue the LONG TERM view shorting. Expecting a 20% drop overall on all equities.
RTY MFI also overboughtMuch more apparent on this chart, MFI is def overbought short term.
Not chasing anything today
Russell 2000 Index - Canary in the Coal MineCurrently down nearly 20% from November 2021 ATH, $RTY1! has lost key support levels and is now below the entirety of ranges from 2021.
This futures index is signaling an increased potential for a broader market correction.
RTY Shortterm: Long
New inner cycle starts and bullish flag pattern is forming.
potential Long shortterm till max 2100~ before we see bearmarket again.
if this week dont continue to raise. we will see 1700~ this week.
prepare before its going wild this week.
RTY MFI oversoldThe other indices are not there yet but RTY MFI is oversold.
Could be the first index to reverse, we'll see. ES and NQ charts imply a reversal either this afternoon or tomorrow but everything depends on AMZN earnings so no prdictions
RNY1! daily Wolfe Wave bullish A Wolfe Wave is a chart pattern composed of five wave patterns in price that imply an underlying equilibrium price. Investors who use this system time their trades based upon the resistance and support lines indicated by the pattern.
RTY UpdateIt's a long ways down before RTY MFI hits oversold and there appears to be no buyers for small cap stocks.
As has been the case the past year, small caps will be the weakest index. I'm predicting more flight to safety
MICRO E-MINI RUSSELL 2000 INDEX FUTURES (CONTINUOUS: CURRENT CONHere's what a real target is. A very important explosion.
MICRO E-MINI RUSSELL 2000 INDEX FUTURES (CONTINUOUS: CURRENT CONThe arrow is starting to move and it's possible to get down to the designated area as the primary target.
MICRO E-MINI RUSSELL 2000 INDEX FUTURES (CONTINUOUS: CURRENT CONThe arrow moves very strongly, and it's very beautiful, and every time it offers us creativity of another kind.
Russell Leading The Dax?In this update we review the recent price action in the Russell and the Dax and identify some high probability trading patterns to take advantage of
RTY Neckline Test - FOMC EveRTY set the Higher Low after a break and cross of the 15 min8 EMA and MBB.
Still Bullish - A Game of VolumeHave taken a step away from charting for a few days. Not because I wasn't interested or concerned, but that I simply had more important things to do than ponder my money.
I am unwavering in my conviction that this year will see new ATH in major indices. I will expect a nice bottoming structure to begin to form here.
We lost the first major volume support and tumbled from there. The VWAP as anchored from the march 2020 low picked out the magnetic price level as to where we would, at least temporarily find support.
I like this action, not only as a relief rally but as an important bottoming signal.
1: RSI is oversold and rebounding
2: We have heavy volume supporting
3: the Put/Call ratio is probably turning down from here
4: We have regained the secondary volume defined support level
Watch and see if it holds that secondary support (yellow) and then we see some action.
Stay safe out there, manage your risk.
