RTY - Will We Break Out of Range or Fail Back Into RangeI am waiting to see if we break out of range or fall back into range.
RTY1! trade ideas
RTY UpdateRTY hit my first target, overbought on RSI and MFI along with NQ and ES
Funny thing is, I totally called market direction wrong on open, but made money by picking the right stock. That's the opposite of what usually happens to me when I call the market direction right but pick the wrong stock, lol. PDD is still red and looks like crap.
Not expecting a tank but I do expect at least a dip tomorrow because everything is overbought, TSLA earnings tonight, ECB tomorrow morning, and Thu is usually the weakest day during a bull run.
Chinese ADRs look pretty weak, will go down further with the market if it reverses here.
And oh, BTW, the gap filled as promised, lol. Keep an eye on futures gaps. Only works for US indices though.
Russell To Rollover From 1830'sIn this update we review the recent price action in the Russell2000 futures contract and identify the next high probability trading opportunity and price objectives to target
RTY UpdateRSI overbought but it's obviously going for the gap fill
I guess I should've stayed bullish, lol. Wasn;t really sure yesterday.
I was expecting a gap down then up move yesterday and the market did the exact opposite so left me a bit confused, lol.
Missed this Ponzi Tuesday rally, not gonna chase it at this point. Gonna stay cash and wait until NFLX and TSLA earnings tonight, hopefully they tank the market so we can buy the dip. Bullish until RTY gap fill.
Nasdaq a leading indicator of Dow Jones, S&P and RussellHow to use related markets to complement each other? Definitely you can apply this technique to other related markets.
In this tutorial, I am seeing Nasdaq as a leading indicator for the rest may likely to follow.
i) Nasdaq bear trend was nicely formed, but not yet for the Dow Jones, S&P and Russell.
ii) Nasdaq in the short-term has also a confirmation for a rebound, and I believe the rest of the indices likely to follow subsequently.
Discussion:
• Drawing primary and secondary trendline
• Nasdaq has broken above, the rest should catch-up, why?
Disclaimer:
• What presented here is not a recommendation, please consult your licensed broker.
• Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises.
Feel free to leave any comments below, I love to exchange ideas with you.
RTY UpdateRTY remains the only index futures with an open gap, but it looks like it's coiling.
Not really sure what the heck this market is doing, might be easier to buy back in when it goes oversold again since it still needs a gap fill. I think I'm gonna take a break this week.
Long Russell! - Trading w Commercials - Fading Speculators (COT)Looking at the net positions of the Commercials (Red Line), the Russell 2000 is at record high levels. Additionally, the small speculators (Blue Line - tough to see but it's blown up on lower indicator)) are very short compared to historical levels. The COT index on the bottom shows dark green when both commercials are maxed net long and small speculators are maxed net short. Use a daily chart with your favorite indicator/candlestick pattern to look for entry - be patient - don't forget a stop. See below for explanations of what you're looking at and what I'm talking about with COT
RISKS: The trend is down which makes this counter-trend trade
COT Definitions:
- COT: Commitments of Traders Reports - A weekly report published by the government (CFTC) that shows long and short positions of the below 3 groups (As well as much more data I don't look at). We look at the NET positions of these 3 groups and compare them to historical levels to signal trade opportunities
1- Commercials: Hedgers - We want to trade with them when they're at extreme levels (Think Tyson, Cargill, General Mills, etc)
2- Large Speculators: Hedge funds and large institutions - We want to fade them when they are at max positions (Think suits in NYC and commodity funds)
3- Small Speculators: People/institutions trading small lot sizes not big enough to report to CFTC - We want to fade their max positions as well since they represent the public (Think dude in his PJs trading and small trading firms)
Indicators on Chart:
- The first indicator shows the net positions of the 3 groups above plotted over time
- The second indicator is an index of the relative buying/selling of commercials over a certain lookback period. Anything above 95 is looking for buy, look to sell when it hits 0
- Note: Just because the Commercial's net position is negative doesn't mean it can't be relatively net long and signal a buy (same in the opposite scenario)
Trade Setup - Both Must Happen:
- When commercials are at max levels we are alerted to buy or sell (Depending on the criteria above)
- On a daily chart, use technical indicators, candlestick patterns, news, etc to enter the trade (not shown here)
RTY1! - Weekly Market Update, 7/18/22Russell Futures remain bound by support below and resistance above which leaves us little to no opportunity to confirm a trade idea for this upcoming week.
This market like the other indexes remain very rangebound seeking a catalyst to drive prices in a direction.
Support and resistance structures have been adjusted accordingly for you review and reference.
I do not see any actionable ideas at this time. I will update midweek if need be.
Wish you many blessings and much prosperity!
M2K - Daytrading - Micro E-mini Future Russell 20002022-07-14 M2K 1 contract Period 15 minutes DayTrading
4 wins/4 trades, 100%
Points x 5$, minus 2$ (fess and slippage) by trade
Trades activated on signals at the bottom pane
and or by connecting to Moving averages
These Ma are the basics ones :
Ma18-21 red Ma50 green
Ma100 blue Ma200 orange
MICRO E-MINI RUSSELL 2000 INDEX FUTURES (CONTINUOUS: CURRENT CONVery strong downward momentum and God willing to continue his strong relegation and achieve good bottoms and can break us a strong call for the future
Potential Bullish ContinuationTitle: Russell 2000 Index Futures ( RTY1! ),H4 Potential for Bullish Rise
Type : Bullish Rise
Resistance : 1795.1
Pivot: 1700.5
Support : 1659.8
Preferred Case: On the H4, with price moving in an ascending trendline on the RSI , we have a bullish bias that price will reverse off the pivot at 1700.5 at the pullback support in line with the 78.6% fibonacci projection to the 1st resistance at 1795.1 at the pullback swing high in line with the 50% fibonacci retracement and 78.6% fiboancci projection.
Alternative scenario: Alternatively, price may break the support structure at the pivot and drop to the 1st support at 1659.8 at the swing low in line with the 61.8% fibonacci projection .
Fundamentals: Equities continue to experience a volatile summer trading season as Russell 2000 futures continue to trend lower, giving us a bearish bias on Russell 2000.
Potential Bullish ContinuationTitle: Russell 2000 Index Futures (RTY1!),H4 Potential for Bullish Rise
Type : Bullish Rise
Resistance : 1795.1
Pivot: 1700.5
Support : 1659.8
Preferred Case: On the H4, with price moving in an ascending trendline on the RSI, we have a bullish bias that price will reverse off the pivot at 1700.5 at the pullback support in line with the 78.6% fibonacci projection to the 1st resistance at 1795.1 at the pullback swing high in line with the 50% fibonacci retracement and 78.6% fiboancci projection.
Alternative scenario: Alternatively, price may break the support structure at the pivot and drop to the 1st support at 1659.8 at the swing low in line with the 61.8% fibonacci projection.
Fundamentals: Equities continue to experience a volatile summer trading season as Russell 2000 futures continue to trend lower, giving us a bearish bias on Russell 2000.
M2K - Daytrading - Micro E-mini Future Russell 2000M2K 1 contract Period 15 minutes DayTrading
5 wins/ 6 trades, 83%
Points x 5$, minus 2$ (fess and slippage) by trade
Trades activated on signals at the bottom pane
and or by connecting to Moving averages (Ma)
These Ma are the basics ones :
Ma18-21 red Ma50 green
Ma100 blue Ma200 orange
Stock Market Today, Stuck in This RangeAfter the inflation announcement, the stock market continued its downward trend from earlier this week.
Those who followed yesterday's Nasdaq technical analysis knew we expected price to drop and test lower critical levels. Following that dip, buyers brought all the main indexes back to the top, as seen in the video below.
Trading ranges are characterized by a "tie" between bulls and bears. As such, it's a day of long-term consolidation.
Ping-pong-like price action. When prices rise, long traders sell and leave their positions rather than adding to them. Short sellers will seek fresh positions. When the price reaches the bottom of the range, short sellers will buy to finish their shorts and fresh bulls will start new longs. Traders don't think stock market movements will continue, therefore they depart and gamble on a reverse.
RTY UpdateMFI went oversold this morning, and you can see RTY is coiling.
CPI release tomorrow morning before market open, the market tanked before the last release, so if it doesn't tank before EOD it's a bullish sign.
Normally I would say this is a continuation pattern, but the algos need to fill he open gap. If it breaks upwards then the target is the resistance zone, upper orange line. Plan accordingly.
If you're short, you'll want to bail tomorrow if the market goes green at all. I'm all cash, even garbage will float on a rising tide. Wouldn;t surprise me at all if they pump even shitcoin.
RTY UpdateThis morning's selloff sent all indicators to neutral. Everything was overbought last week in a weird melt up.
ES, NQ, RTY all have similar indicator patterns. I'm hoping the indicators start cycling from overbought to oversold again, because that's the easiest time to make money.
I get the weird feeling we see a bounce tomorrow then only a mild drop Wed, but who knows. Market could completely tank again, lol, but at this point I think 75 is priced in for the next Fed meeting. This week is all about the CPI and market reaction to it. I don't think indicators will matter much.
Really don't feel like trading this week. I shifted my BITO (shitcoin) puts to a lower strike and next week's expiration since BTC tends to tank on weekends and CPI numbers coming out Wed. Just a small play, a couple grand including today's profits.
RTY1! - Russell 2000 Weekly Analysis, 7/11The slightly descending BLACK channel has served as support for several weeks now.
This market like the other major indexes have been consolidating.
We anxiously await a reversal from here and a break of resistance above OR a breakdown with selling continuation.
Support and Resistance structures have been adjusted for your reference this upcoming week.
Wishing you a blessed and profitable week!
RTY UpdateRealigned the overlay, bad news doesn't matter the algos want the gap fill.
Probably staying out of the market for a week or two since it could wind up being a melt up, will still post updates if I wake up early enough
M2K Micro E-mini Future Russell 2000M2K 2022-07-07 Dau trading in 15 minutes period
Trade #1
-Buy on open at 9h30, because the trend is up as the Ma18-21 // (double red lines) is moving up
- No Lmt order used on this trade
- First Stop placed under the 9h15 candle Low
- Next stops are following under Ma12 (turquoise step line)
- Or Stop placed under successive higher lows
- Also may appear a reversal \\// of the signals at the bottom pane, for a possible ending
of this trade, but not necessarily, depending of the protective following stops success
Note that at 14h30 Bollinger-Bands are beginning to rectact
RTY UpdateLOL, i slept in and missed the morning pump. I was all cash.
I think the overlay is a bit too bullish, but I also think the RTY gets a gap fill tomorrow. We could see a possible sector rotation instead of an all out rally.
My play is to short EOD tomorrow, not chasing the pump. Earnings season coming up end of month (EOM), and Fed minutes had nothing positive in it.
Remember the last time the market pumped Fed meeting minutes it was a Thu/Fri pump. I guess the same here.
Russell 2000 Index Futures (RTY1!),H1 Potential for Bullish RiseType : Bullish Rise
Resistance : 1827.6
Pivot: 1752.1
Support : 1681.3
Preferred Case: On the H4, with price moving above the ichimoku cloud and along the ascending trendline, we have a bullish bias that price will rise to the pivot at 1752.1 in line with the overlap resistance, 61.8% fibonacci projection and 61.8% fibonacci retracement . Once we have upside confirmation that price has broken past pivot , we would expect bullish momentum to carry price to the intermediate resistance at 1795.3 in line with swing high resistance and 78.6% fibonacci projection . Should price break intermediate resistance, we would have a bullish bias that price would rise to the 1st resistance at 1827.6 where the pullback resistance, 100% fibonacci projection and 127.2% fibonacci extension are.
Alternative scenario: Alternatively, price may drop to the 1st support level at 1681.3 in line with the swing low support.
Fundamentals: Equities continue to experience a volatile summer trading season as Russell 2000 futures continue to trend lower, giving us a bearish bias on Russell 2000.
Russell 2000 Index Futures (RTY1!),H1 Potential for Bullish RiseType : Bullish Rise
Resistance : 1827.6
Pivot: 1752.1
Support : 1681.3
Preferred Case: On the H4, with price moving above the ichimoku cloud and along the ascending trendline, we have a bullish bias that price will rise to the pivot at 1752.1 in line with the overlap resistance, 61.8% fibonacci projection and 61.8% fibonacci retracement . Once we have upside confirmation that price has broken past pivot , we would expect bullish momentum to carry price to the intermediate resistance at 1795.3 in line with swing high resistance and 78.6% fibonacci projection. Should price break intermediate resistance, we would have a bullish bias that price would rise to the 1st resistance at 1827.6 where the pullback resistance, 100% fibonacci projection and 127.2% fibonacci extension are.
Alternative scenario: Alternatively, price may drop to the 1st support level at 1681.3 in line with the swing low support.
Fundamentals: Equities continue to experience a volatile summer trading season as Russell 2000 futures continue to trend lower, giving us a bearish bias on Russell 2000.
RTY UpdateStill tracking the overlay more or less, but it all depends on the reaction to the Fed meeting minutes this afternoon. Appears that's when it will break up or down.
DUmped my calls, on open. Didn't like the way futures trading looked, actually a couple hundred on EWY but made money on the rest. Glad I flipped because GM tanked right after.
Next time the market pumps garbage stocks, I guess I have to bet on garbage stocks. Asia is a bit unpredictable and transports are weak. Can't just bet on your favorite sectors I guess.
If anything the right thing to do was flip EOD yesterday and short China, lol. PDD down quite a bit
