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
RTY1! trade ideas
RUSSELL 2000 respecting FIB levels; ABC may reach 1500 vol zone.The smallcaps Russell 2000 futures RTY1! (also the IWM etf), a leading market indicator like the transports, may complete an A=C correction ending in the volume profile zone near 1500. (IWM seems to be consolidating in tranches of 200…ex…230, 210, 190, now @ 170 & maybe 150 around 4Q2022.) This will complete the final wave 5 of C-wave.
As you can see in this weekly chart, Russell 2000 respects impt FIB levels. 2100 zone is Fib 0.236, 1900 is Fib 0.383, the current 1700 zone is Fib 0.50 & the projected 1500 bottom zone will be Fib 0.618, the most likely zone for a reversal.
THE BULLISH CASE: if Russell 2000 holds the 1700 zone, the bounce will be very quick due to the 2 LOW VOLUME zones. The target will be 2100 with some consolidation near the 1900 zone.
Not trading advice
M2K - Daytrading - Micro E-mini Future Russell 2000 Day Trading with the M2k using 1 contract
- Periods set ar 15 minutes each
- Moving averages used :
Ma18 red; Ma21 red; Ma12 turquoise step line; Ma50 blue; Ma100 green; Ma200 orange
- Bottom pane, 3 indicators with each its Ma:
Stoch RSI; CCTBBO; CCIOBV
M2K - Daytrading - Micro E-mini Future Russell 2000M2K Daytrading 2022-07-05 15m periods
Moving averages, Bollinger-Bands and three indicators are used to pulse trades.
As of AMP broker, the fees are calculated at 1.00$/trade (in-out), pl;us I add a 1.00$ slippage.
Not all of these trades, nor none, have been executed.
Potential Bullish ContinuationTitle: E-MINI RUSSELL 2000 INDEX FUTURES (RTY1!), H4 Potential for Bullish Rise
Type : Bullish Rise
Resistance : 1791.8
Pivot: 1701.4
Support : 1643.8
Preferred Case: On the H4, with price moving in an ascending trendline, we have a bullish bias that price will rise from the pivot at 1701.4 at the overlap support in line with the 78.6% fibonacci projection to the resistance at the swing high at 1791.6 in line with the 50% fibonacci retracement and 78.6% fibonacci projection.
Alternative scenario: Alternatively, price may break support structure at the pivot and drop to the support at 1643.8 at the swing low in line with the 61.8% fibonacci projection .
Fundamentals: No major news
M2K Micro E-mini Furture Russell 2000Day Trading 2022-07-01
M2K, 1 contract, by 15 minutes period
Each point value represents 5$.
1) Before 9h30, the signals at the bottom are trending up, positioning a Buy at the open. This trade is closed under the Bollinger High Band.It is providing a move of 13.8 points * 5$, for a winning trade 69$.
2) The second trade is a Short ignated by the inversion of the signals at the pane below. It is closed just over the Bollinger Low Band concurrent with a previous support. This trade produces 22.6 points * 5$ giving +113$.
3) and 4) These trades (Long and Short) are placed during a flat trend. The trades are played between moving averages, Ma200 (orange) and combined Ma50-100 (blue and green). They give : (10.0 points +7.4 points ) *5 for 87$.
5) This last trade is a Long one as the signals at the pane below are starting up from the bottom. It offers a win of 25.9 points *5$ for 129$.
Total for trading 1 M2K contract: +398$
#1 - Russell,Nasdaq & Dow jones tuning bear market Russel, Nasdaq & Dow Jones Futures are the best indicators of the economy
Russel is the fastest one
Nasdaq is the 2nd
Dow Jones is extremelly manipulated to keep people buying deep
The rainbown system with those 3 specific EMAs have been tested for years and can be used with ANY chart. The weekly one is the best to evaluate markeet direction. Daily is good for daily opeartions that are closed before the market closes. don't leave your money sitting there. Overnight manipulation is huge
Rainbown dow is formed and now prices are free to move down hard. However, Nasdaq and Dow Jones are still in process. Once all of them is formed we will see the largest falloff in the history of US stock market
Capitulation ZoneMarket has been grinding down slowly for months, breaking historical records left & right, yet there has barely been any trace of volatility ramp up or capitulation. However, we may soon be entering that zone when it makes that move that, 99% of investorsm traders, bulls, bears and pigs alike, do not see coming. In such an aftermath, only the stocks with strong foundations will be left standing.
RTY UpdateFollowed my 15 minute rule and flipped my puts. DCT was a big winner, another $3k day. Good week for me despite missing out on the Friday pump and the Tuesday dump, lol.
RSI now touching oversold with positive MFI divergence. Note how it hit my overlay target even though the chart pattern was a bit different. I told everyone earlier this week not to go long until RSI went oversold. We're there now, but I flipped my puts and did not go long. Maybe this afternoon for a small play.
100% cash now on all accounts, closed my earnings play.
RTY New OverlayMarket tanked today on Consumer Confidence numbers released at 10am. Wasn't paying attention to the news since I flipped my calls at 9:45.
RTY didn't get the gap fill so you know it has to try again, lol. I overlaid the last gap fill pattern, down tomorrow, more whipsaw this week then another gap fill attempt next week.
Bad news won't keep the market from getting the gap fill, heck, they tried to pump it a week after the Fed said possible .75 hike in July.
We might see some serious whipsaw for the rest of the week, I wouldn't chase the market. 4th of July week is usually pretty bullish, but then again this market isn't following any rules.
Might roll into some calls again when RSI gets oversold, we'll see.
Potential Bullish MomentumOn the H4, with price moving in an ascending trendline and bouncing off the ichimoku cloud, we have a bullish bias that price wil rise from the pivot at 1702.4 at the overlap support in line with the 61.8% fibonacci retracement and 78.6% fibonacci projection to the resistance at the swing high at 1791.8 in line with the 50% fibonacci retracement. Alternatively, price may break support structure at the pivot and drop to the support at 1642.8 at the swing low in line with the 61.8% fibonacci projection.
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Russell 2000 Futures Next Leg Down -10%Russell 2k $RTY1! broke below the 200 EMA on weekly and failed to regain 1800 as support.
As the canary in the coal mine, the Russell 2000 comprises of the 2000 smallest stocks of the Russell 3000 (broad capitalization-weighted stock market index that seeks to be a benchmark of the entire U.S stock market) and provides a solid bellwether for forward facing trends.
Next move is a 10% markdown from 1700 to 1550. From there we will likely see a failure to regain 1600. With Q2 earnings coming and early signs of margin compression in the face of rampant inflation ($NKE earnings revealing some weakness), expecting to see 20 EMA crash below the 200 EMA with the 50 EMA following closely behind.
On balance volume reflecting a downtrend that really gained momentum in late March / early April with no sign of reversing in the near-term.
Small Caps Russell 2000 Looks Attractive: Elliott WavesHello traders and investors, today we will talk about small caps Russell 2000, in which from Elliott wave perspective, we see a completed 7-swing complex correction from the highs.
Russell 2000 topped and completed its 5th wave of a five-wave bullish impulse already back in November 2021. Since then we can see slow, choppy and overlapped wave structure that we see it as a correction within uptrend. It's ideally a complex 7-swing A-B-C-X-A-B-C, called also a double three W-X-Y corrective pattern.
A Double three is a sideways combination of two corrective patterns. It's a complex Elliott wave that is subdivided into three minor waves W, X and Y. Its internal structure is (3, 3, 3). In effect, the number three relates to corrective waves, therefore the structure (3, 3, 3) indicates that the WXY wave pattern is composed of three distinctive corrective waves.
• A combination of two corrective structures labelled as WXY
• Wave W and wave Y subdivision can be zigzag , flat, double three of smaller degree, or triple three of smaller degree
• Wave X can be any corrective structure
Well, if we are on the right path and if Russell manages to recover back above 1920 region and resistance line of a corrective channel in current risk-on sentiment, then we can easily confirm support in place and bulls back in the game.
All the best!
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RTY UpdateRTY still hasn't filled the gap.
Just like yesterday there's a rotation from tech to small caps since it needs the gap fill. I just don't see the market tanking until this fills but i could be wrong. It has happened, lol. I was thinking about shorting retail as soon as RTY filled the gap, will be a bit disappointed if I missed teh boat here.
I'm all cash anyways after flipping my calls 15 minutes after open. Apparently that was a very wise decision.
RTY UpdateMFI keeps going overbought without dropping which is usually an indicator of a melt up about to happen
NQ is already pretty close to filling the gap, but RTY needs to go pumptarded to fill its gap. I think garbage stocks are going to pop before end of next week, because there's another Fed meeting in July so they go to get that gap fill sooner than later.
Might seem odd coming out of my mouth, but go long on your favorite garbage stock, lol. BTFD!
Market Overview RTYMarket Overview RTY
We are at a critical area where the BULL's could take control to push the pair Bullish as we have Support area and Previous Resistance cross road where the Market normally U-turn from .
Long Term we Bullish on this pair with a long term target of 3245.6 .
Monthly Take Profit Target 1: 2751.5
Monthly Take Profit Target 2: 3245.6
Stoploss : 828.8