8.19.21 Russel Mini: Long trade. Three things that added miserly to my trading: when I had 8 monitors; having great patterns. but not using the alert tool to "watch" the market for me; drawing too much ( I was working hard but I was distracted away from the great entries on another market).
RTY one hour time frame is in an up channel. The market is at the bottom of the channel. If the market can give a counter trend line break bullish while staying above the bottom of the channel. The research shows there is a strong history the market could increase +600 ticks towards the top of the channel.
Indicators in the middle, no idea which way this goes Something to keep in mind.... last August, every index rallied except small caps. It just went sideways, same can happen here.
Rotation on watch as the CPI will set direction for the remainder of this week's trading.
Looks like RSI needs to go oversold before a bounce. Inidcators all neutral for all indices, NQ looks bullish, everything else looks bearish. Possible gap up then drop tomorrow because FDAX looks like it wants to retest the top.
MFI oversold on RTY, NQ, and ES. Flipped my puts, done for the day. Didn;t make much except for EWZ. Decent return there.
RTY has successfully executed a linear regression crossover on the daily period (where the 14 period linear regression line crosses the 30 and confirms by also crossing the center ribbon 0.2, 14 STDV BB). RTY has also backtested the crossover without breaking through it (yet). We have an excellent entry here as well as a clear place to exit the trade if the...
This Pattern has been the name of the game for the last week as the inverse H&S pattern did not break with the volume needed for a sustained move. The juxtaposition between NAS and RTY looks to continue. Jobs numbers on Friday should give direction.
new line in the sand. The market is digesting the GDP miss and the post tech earnings hang-over with AMZN being a bit light. A back test and hold of the inverse neckline will be on watch for rotation. OR will a correction in price ensue opening up some ranges?
At the moment the big question is whether the market is taking a breather, and will continue to go up? Or is it topping out and will we have a correction to the downside soon? I can find a arguments for both, so I think we need to just sit on our hands and wait till the market unveil their intensions. S&P 500 (ES mini future): Sofar the market action is...
The RTY daily time frame is in an up trend. The market is making higher highs and higher lows. The market hit the up trend line and is pushing bullish towards the up Fibonacci price point 2588.1 about +3,754 ticks away. I plan on turning to the one hour time frame and looking for low prices in the buy zone. ****It is always a good idea to trade with good risk...
There is a lot on tap this week including earnings from most of big tech (TSLA, AAPL, GOOG, MSFT, AMZN, FB) and a Fed Meeting/Policy Statement Wednesday. The S&P (ES), Nasdaq 100 (NQ) and Dow (YM) all hit all time closing highs on Friday so it's a break out or bust look on several charts. Let's take a look at the levels for the stock index futures, bonds, gold,...
The perfect storm event known as the Covid pandemic has introduced many millions of new traders into the circus. The indices have performed amazingly well over the last year.. nearly parabolically so. While I do not believe the indices have formed a major top yet, a minor pivot is likely. I have been hoping for a decent correction to shake things up. I am not...
The RTY daily time frame is in an up trend. The market is making higher highs and higher lows. The market is at a low price in the buy zone hitting the uptrend line. The market has an up Fibonacci with an extension above the live market price point 2588.1 about +4,707 Ticks away. It will be a good idea to turn to the one hour time frame and to look for low...
Hasn't happened since November, and we all know what happened then.
Stock indices finally broke their uptrends last week, and the small caps (RTYU2021) completely fell apart. In the first of what may become a Sunday evening series, I take a look at what the Volume Profile and price structure may be telling us in terms of levels to watch this week for the ESU2021, NQU2021, RTYU2021, GCQ2021, ZNU2021, ZBU2021, and MBTN2021. Quick...
Not feeling bullish, but MFI is oversold. Lot sof speculative stocks have been down, so expecting a pop sooner or later