Overview of the Markets - SPX RTY NQ IWM SOXXJust an overview of what I'm seeing and why I'm still being patient with my short position. Of course if things don't start falling soon, we may have something else happening and I'll have to be open to that. I cover a few sectors that stand out to me as examples of structure and RSI which looks ready to turn down. Good luck!
M2K1! trade ideas
Possible H&S chart structure in RussellA decisive close below the neckline would spell trouble for small caps in U.S. market
RTY UpdateES and NQ MFI went oversold premarket, but RTY didn't. Looks to me like both RSI and MFI has to go oversold before a bounce.
I think I'll sit on cash for now.
M2KU2023 SHORTIf you look at the TrendCloud on the continuous contract you will see that it likes to go 5 waves up and then 7 waves down most of the time. It worth taking an aggressive entry at this demand zone because you have asymmetrical leverage. Meaning: the reward is much bigger than the risk. Go for it.
#RTY Targeting An Equality TestIN this update we review the recent price action in the emini Russell 2000 futures contract and identify the next high probability trading opportunity and price objectives to target
PAST PERFORMANCE NOT INDICATIVE OF FUTURE RESULTS
RTY UpdateMFI oversold, but RSI is not yet.
Might take a stab at a long position tomorrow, we'll see what it looks like then. Staying cash for now.
RTY UpdateRSI overbought, probably doesn't reverse until MFI gets overbought as well because ES MFI is oversold. Indicators are mixed depending on the index. No idea what the algos are doing, lol.
RTY UpdateI did say 4 day short squeeze on garbage small caps stocks, and today is day 4. Overbought on RSI and MFI, but what's more important is PCE numbers premarket tomorrow.
No long positions for me at all.
RT Daily UpdateDaily MFI for RTY is still oversold, so I'm still anticipating a garbage stock short squeeze.
Problem is, CPE numbers come out Thu premarket. I'm anticipating rebound inflation, even marked my calendar for Wed lunch to bail on all long positions.
I anticipate that my 3hr indicator will go overbought by then anyways, and I usually don;t hold long position for more than a couple of days.... but good to set yourself a reminder. If the market tanks premarket Thu, I'm gonna say I told you so, lol.
RTY UpdateMFI still oversold on daily and my short term 3 hr chart. We're getting the usual Friday afternoon pump.... maybe we finally see that 4 day short squeeze on garbage stocks I was anticipating.... BYND is up 3%
US2000 BEARISH SCENARIOAll focused on the forthcoming remarks by Jerome Powell, set to disrupt the situation tomorrow, which could potentially shift investor sentiment from buying to selling. The US2000, also known as the Russell 2000, represents a small-cap index that follows behind the larger indices such as DJIA, S&P, and Nasdaq. In recent months, the Russell has demonstrated weaker performance in contrast to its counterparts. The impending increase in interest rates might introduce new challenges to the market. Indicated by a symmetrical parabolic pattern, there's a suggestion that a bearish trend could extend around 130-150 points, mirroring the height of the curve. Nevertheless, the equation "Powell = Power" still holds true.
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RTY Daily oversoldRTY daily hit oversold, ES and NQ are not there yet.
Expecting one of those short squeezes sooner or later, unsure of timing so mostly cash. Just a small long position/
RTY UpdateOversold on RSI and MFI, also touching oversold on daily MFI.
Fed minutes this afternoon, I don't see any real new "news" coming out. Might not see a reversal until tomorrow because NQ hasn't hit oversold yet.
RTY UpdateRSI almost oversold now. Guessing gap down tomorrow and reversal on Fed meeting minutes or some other stupid "news", lol.
Probability that it reverses overnight so staying cash, already dumped my puts because I'm "easy money"
RTY UpdateOdd stuff, RSI headed to oversold, MFI headed to overbought.
Fed minutes released Wed afternoon, might just wait until after that happens. Kinda expecting a short squeeze pop sooner or later.
With interest rates where they are, there's no need to force a trade. Money market is just fine, lol.
RTY UpdatePPI higher than expected as I predicted, but RTY went oversold and bounced anyways. Pretty much what I expected. Right idea, wrong stock, lost a little on my BITO puts but I got into PCAR stock while it was red this morning. That's all I'm willing to do, PCAR still has an open gap above as does all of the index futures. No options trading because teh market could just go sideways.
A bit surprised and hugely disappointed shitcoin didn't tank with the inflation numbers.
RUSSELL | SHORT HEDGE Markets have been frosty with crazy YTD % returns. I am hedging my PF with Russell short at resistance. Still holding Apple short from 190 (recession hedge).
Russell2000 /RTY | Potential Long at 1930 SupportThe Russell can find support where it once found resistance ~1930
Watch for a bounce to the upside
Russell pullback makes for a meaningful tradeMy earlier post on the Russell futures was myopic in the sense I neglected to zoom out into the appropriate timeframe in order to draw the Fib extension. While the concept remains simple, markets intraday tend to shake out short-term participants and keep the liquidity from the shakeout as that is what the markets usually seek. This retracement had a dip past the Fib halfback in today's session and is looking primed to visit new highs. The stop remains in the 1975 area being a very wide stop for a trade entry off 1986.9 taken off today's pullback targeting 2029 for a swing trade profit target. If the price incidentally moves below 1992, take profits and consider another trade on the pullback.
Trading index futures intraday with actionable analysis-RussellWe clocked an overnight high of 2017.8 with the Russell futures as Asian participation pushed us higher and as is customary in recent months, European premarket into their session sold US futures. A simple RTH based Fib measure is indicative of Fib support sitting between 2002.8~1999.4. Catching this mid-stream in this setup would be best if taken between 2005.2~2007.7 with a stop at or below 1999. Per contract risk therefore with trades taken at the lower band of the suggested entry range is -$310 while holding into the profit target which is above the ONH at 2020.3 would be +$755.
RTY/NQ UpdateRTY and NQ MFI are overbought though RSI is not there yet. ES has not hit overbought.
Not in a hurry to open a position, will wait to see if RSI gets overbought and short something maybe tomorrow or maybe even EOD today.
Definitely not holding a long position overnight with FDAX overbought on both RSI and MFI. Would feel real silly if FDAX tanked tomorrow while trying to chase pennies on a stock.
Russell 2000July 2022, March 2022 pre-SVB, and current high. Rejected at this level on news of higher yields which are approaching all time high.
Technical and digital analysisWe notice that we are in a correction to the upside and there is an increase in the buying momentum and we wait for the weakness of the selling momentum in the correction and we buy
