Weekly target has been reached today and it was really wonderful setup. The beauty of trade was the confluence of short setups on weekly & daily charts that enabled us to wait longer for distant profit target. Second weekly target for those who want to continue holding their position will be 1102.00 if they can psychologically tolerate holding profitable trades...
The sisters ($TF and $NQ) didn't play along and we busted through 2 levels of support. Is this the top for the year? Hard to tell since we can run through the highs in a couple days. Looking at the weekly and monthly chart we would say there is more upside to come. So enjoy the pullback. We will look to short (very small size) on bounces and triggers. ...
I expect small caps to rebound at support today. Health of mkt depends on small/mid size business. IWM Rut2k had difficulties under the 1.618x fib ext level from 2007-2009. No "Excess Supply " signals is bullish here. SPY hanging just ABOVE 1.5x fib from 2007-2009 and can make a move to its 1.6x fib ext while the IWM runs to its 2.0x fib.
On Sept 20th, we posted on our StockTwits about the formation of an Evening Star pattern. The Russell 2000 index managed to also form a death cross on the same day the Evening Star pattern was formed. This typically spells out danger for the future. As the indicators reach oversold territory, there is a chance buyers may bring it back up to the 200 day before this...
The Russell 2000 has seen strong moves to the downside, as market participants wonder whether or not there is a market top in place (regardless of what CNBC says),
Price action is in an important place, resting on an ascending trend line created in mid-June. A break (with a retest and rejection of new resistance/former support is best) would iniate a short...
it's probably Russel2000 go down to 110 before Earnings season in october. then restart long position e probably break up the triangle pattern for the end of the year.
Russell 2000 started this year as underperformer, but bear chanel was broken and we had nice upside follow through and retested 2013-2014 highs. But now 8 and 21 EMAs are broken, they supported price during this move up.
Accelerated trend was broken on 8 of July and now it looks like a nice "h"-pattern with entry below $114 and stop above previous swing high and...
Friends,
This past June 04th, I released three forecast targets, namely:
1 - TG-1 = 115.52 - 04 JUN 14
2 - TG-2 = 117.83 - 04 JUN 14
and
3 - TG-Hi = 119.72 - 04 JUN 2014.
(See recent analysis that generated these targets here: )
As of today's close (Monday, 09 JUN 2014), the first target got steam-rolled then used as a springboard (pink arrow) for further...
Friends,
Screening $IWM through my predictive/forecasting model, the following three targets were generated:
1 - TG-1 = 115.52 - 04 JUN 2014
2 - TG-2 = 117.83 - 04 JUN 2014
and
3 - TG-Hi = 119.72 - 04 JUN 2014.
PREDICTIVE ANALYSIS/FORECASTING ORIGIN:
These forecast targets are defined using the same predictive/forecasting model that produced all of my...
In 2008, the IWM completed a head and shoulders top two months before the SPY and DIA did, effectively predicting the coming crash in the SPY. Is the same happening today?
Russel done making it's correction with a EW triple combination.
Finding support at the middle of trend channel.
More important...Closing within bollinger band.... I see a move up here.
Safe trading Ladies and Gents!
BM
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