RUT End Of Week Evaluation*** Comments prior to evaluation summary ***
Week ending May 1, RUT broke the SAR and targeted 1383.76. High this week was 1330.109, displaying room to the upside.
However, like the SPX - be cautious if the optimism drains from the market.
Trend Analysis:
The current trend is defined by the last price and it's relationship to specific moving averages.
Check the MA strategy for more specific suggestions.
Weekly: The relationship to the primary trend MA is bearish . The price in relationship to the other averages suggest close current positions.
Price Action:
Weekly: The average price range currently is 103.50 points/ticks/pips. Prices are currently .42x the normal trading range. Prices are trading within the mean range for activity. This generally indicates a consolidation of strength/indecision in the market regarding direction.
Prices are currently caught in consolidation between 966.216 and 1396.25.
While in consolidation the trade range may decrease to 63.653999999999996 points/ticks/pips.
Standard Deviation
Weekly: Standard deviation suggests a range from 1093.835 to 1565.442 for the following week.
Calculated Price Strength:
The strength of the trend in conjunction with specific averages
Weekly: Trend strength suggests a trade range of 1265.67 to 1393.60 for the following week.
Price Projection:
The price action has generated a projection signal for the underlying.
Weekly: Price currently displays (if strength and attitude continue) a desire to move toward 1361.9
If strength and attitude continue, it could take between 1 to 2 trade periods (weeks) to reach the projection.
Indicators Summary.
A collection of technical indicators whose directional attitude has been summarized.
Weekly: Out of the cumulative indicators monitored, 36.36% are bullish , 36.36% are bearish , 27.27% are neutral
The CCI indicator trading strategy suggest the following:
Weekly: Bearish - cover shorts.
Confirmation Signal
6 indicators combined to confirm entry/exit.
Weekly Bearish - Close/Cover directional trades, profit taking/trend switch in process.
Suggested stops base on weekly chart:
SAR value at: 974.36
In consolidation and bearish (Consolidation High + (ATR * .5)): 1396.26
Close - (ATR * 1.5) at: 1329.638155.25
