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.
RTY1! trade ideas
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.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
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
Potential upsides on RTYWe tried to reject the Weekly trend line but looks like it was a fake out and we might see a breakout.
We are sitting right at the weekly trend line with a bull flag on the daily timeframe
Entry - 1990
Stop - 1960 (I would like to see a daily close below this level)
First target - 2050
Final Target - 2100
Please share your views. Happy trading!
Any which way you draw it, all roads lead to Tendie Town! Long story short: If it breaks out above 2k and VAH, it won't get resistance until 2200. Then after that we're looking for 2.5k->3k on our way to Tendie Town!
I see limited downside here, maybe 1900/1850; but worst case scenario it catches support at 1500 or 1750 area and we just make even more money as it runs back to Tendie Town! Choo Choo!
Breakout in Russell Above 2000The Russell 2000 is in a breakout above 2000, creating a path of least resistance to 2033-2050. Anecdotally, this has been a hated bull market, and many managers are severely under-positioned and facing career risk. Will they play catch up to the S&Ps +20% and the NQ's +45% ytd by buying large-cap stocks? No! They will likely have to look to small caps for outperformance in 2H. The Russell 2000 is only +13% ytd, with half of that coming in the last month. There is room to run here.
#Russell2000 #RTY To Test A Confluence Of Range ResistanceIN this update we review the recent price action in the emini Russell2000 futures contract and identify the next high probability trading opportunity and price objectives to target
*Past performance not indicative of future results
RTY | IWM | InformativeCME_MINI:RTYU2023
If the price of RTY breaks above the bullish line of 1947.4, it may indicate a bullish signal, suggesting potential upward price movement. In this scenario, the target price could be set at 1964.5.
Conversely, if the price of RTY breaks below the bearish line of 1937.5, it may suggest a bearish signal, implying potential downward price movement. In this case, the target prices could be set at 1932 and 1919.
