*** Comments prior to evaluation summary ***
RUT generated new low in the consolidation range this week.
An enveloping bar formed in the market on Friday (daily chart). This can have an impact coming into the new week. The envelope indicated a desire to move toward 1405 - 1397 which matches the week charts skipping target low of 1389 So I would accept this is a double confirmation of potential low for next week. As always this is dependent on if the strength and attitude continue.
There is also a minor measurable event which has a suggestion of 1344 for the coming week.
RSI has weakened by 6.3% on the 14 day and 16.1% on the 5 day. ** If you use RSI to help measure 'Strength' as it was designed for.
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 bullish. The price in relationship to the other averages suggest long positions
Price Action:
Weekly: The average price range currently is 129.76 points/ticks/pips. Prices are currently .28x 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 1343.60 and 1537.62.
While in consolidation the trade range may decrease to 79.722 points/ticks/pips.
Standard Deviation
Weekly: Standard deviation suggests a range from 1225.18 to 1612.09 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 1338.17 to 1498.55 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 1389
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, 60.00% are bullish, 0.00% are bearish, 40.00% are neutral
The CCI indicator trading strategy suggest the following:
Weekly: Neutral price action - shorts closed.
Confirmation Signal
6 indicators combined to confirm entry/exit.
Weekly Bullish - Open directional trades
RUT generated new low in the consolidation range this week.
An enveloping bar formed in the market on Friday (daily chart). This can have an impact coming into the new week. The envelope indicated a desire to move toward 1405 - 1397 which matches the week charts skipping target low of 1389 So I would accept this is a double confirmation of potential low for next week. As always this is dependent on if the strength and attitude continue.
There is also a minor measurable event which has a suggestion of 1344 for the coming week.
RSI has weakened by 6.3% on the 14 day and 16.1% on the 5 day. ** If you use RSI to help measure 'Strength' as it was designed for.
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 bullish. The price in relationship to the other averages suggest long positions
Price Action:
Weekly: The average price range currently is 129.76 points/ticks/pips. Prices are currently .28x 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 1343.60 and 1537.62.
While in consolidation the trade range may decrease to 79.722 points/ticks/pips.
Standard Deviation
Weekly: Standard deviation suggests a range from 1225.18 to 1612.09 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 1338.17 to 1498.55 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 1389
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, 60.00% are bullish, 0.00% are bearish, 40.00% are neutral
The CCI indicator trading strategy suggest the following:
Weekly: Neutral price action - shorts closed.
Confirmation Signal
6 indicators combined to confirm entry/exit.
Weekly Bullish - Open directional trades