The Russell 2000 has broken down from a Bear Flag that is visible on the monthly timeframe; at the same time, the RSI is breaking below trend and the MACD has flipped Bearish. If this goes like last time, it will result in a deep bearish retrace, perhaps all the way down to the $70s or even the $50s. One thing to keep in mind is that the Russell is heavily linked...
DJ:DJI is struggling here a bit but it looks okay, so far.
SP:SPX is in the same boat.
TVC:NDQ has been weaker recently but it moved the most out of the indices.
But look at this! TVC:RUT is shinning nicely today!
Looks like it wants to base here & maybe even move higher!
AMEX:DIA AMEX:SPY NASDAQ:QQQ AMEX:IWM #stocks
Something a little different today.
Was looking a some stock ratios and decided to regress the standard Russell 2000 against the risky technology index, the Nasdaq.
This RUT/NDX ratio has been inside a Channel Down since the Dotcom Bubble send it sky high, collapsing the tech sector.
The Channel Down has never been broken since and made a new Low this...
Russell 200 (RUT) has had a big safeguard on the current Bull Cycle following the Housing Crisis bottom in 2009. The symmetrical Zone that was formed on the previous All Time High (ATH) has always held once it transitioned into Support upon periods of corrections (with the natural exception of COVID) and provided the framework for the rebound initiation of the...
Historically, the YELLOW support area NEVER holds when TVC:DXY is on its way back down.
HOWEVER, the US #Dollar is showing strength. (this is vs a basket of currencies that are also weak.) 1st time it bounced back this hard.
This looks like it wants to keep going, longer term. We'll see.
This is NOT good for #stocks (longer term).
TVC:TNX has been trading closely.
Russell 2000 broke again today under the 1D MA200 after failing to close over the 1D MA50 on September 1st. Despite numerous breaks under the 1D MA200, all candles managed to close over it. If today's close under it (first time since June 5th) along with the bearish 1D technicals (RSI = 35.725, MACD = -19.100, ADX = 32.380), we expect the price to drop more inside...
This is essentially a momentum play where we're seeking a breakout in the Russell 2000 (RUT) compared to the Nasdaq, signifying relative overperformance and potentially paving the way for new highs on the S&P 500 (SPX).
It's important to note that a rejection at this juncture would indicate a bearish signal. However, from a pattern probability perspective, the...
As we mentioned yesterday, the TVC:NDQ is poised for a big move some time this month.
After posting that, noticed this pattern. Was busy so didn't write it up.
Was out all day celebrating daughter & nephew's bday🎉
Do you see it on the DJ:DJI & CBOE:SPX as well?
We bring up the Head & Shoulder Pattern every so often. It signifies tops.
HOWEVER, this pattern...
How #indices closed last week.
TVC:DJI
After a BEARISH ENGULFING it then closed Friday with a doji = battle for the bulls and bears which is unresolved
NASDAQ:NDX
Fighting back but it is still showing Negative RSI Divergence.
SP:SPX
Suffering from Negative Divergence. We''ll how #SPX trades over the next few days, weeks. AMEX:RSP (Equal weight) was...
Barely more than a week we stated that RISK in #equities was INCREASING.
We also gave our thoughts on some #indices .
Let's see what has happened since that post:
NASDAQ:NDX has cooled off - check
TVC:DJI pumped since then - check
Likely topping out short term here though.
TVC:VIX has been trading sideways - check
Does seem like it's beginning to gain...
W Formation formed and broke out in June.
Since then, it's been smooth sailing with demand and buying up to the target of 1,973.
Moving averages are all up 7>21>200 and RSI> 50
Now it's a momentum trading range where trend traders can continue to hold and ride it up.
We will update the trade idea when a new Breakout pattern occurs.
DJ:DJI is having hard time here, again.
The RSI is much lower, negative divergence, steam running out?
NASDAQ:NDX is higher but also losing steam, RSI lower.
SP:SPX AMEX:RSP & AMEX:IWM all put higher highs but they're also giving back.
All the #indices have low volume. Kind of normal for this time of year.
TVC:VIX is lower.......
Sell on...
Equal weight AMEX:SPY is outperforming the regular CBOE:SPX #Index again
AMEX:RSP
We mentioned not long ago that the big names that ran were struggling a little recently.
Money Rotation?
TVC:RUT could do a lil better. Not participating as much.
But it's nice to see AMEX:RSP doing better than normal #SPY.
TVC:VIX heading lower gain
#CPI Tomorrow
Bringing indices up again, Let's look at the SHORT TERM first.
(Unfortunately can only show 1 chart, see profile for more info)
DJ:DJI longer term still showing an ascending triangle, current pattern is sideways channel, there's some negative divergence.
NASDAQ:NDX maintains the uptrend, HOWEVER - we're seeing SEVERE negative divergence.
SP:SPX also in...
Hello everyone! Today we will talk about five different important concepts. Many things are happening in markets, so I will create similar reports to help people understand why things are how they are. This will be my first report, so it might be a bit harder to go through, especially because on Tradingview, I can't easily share economic data or random...
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The performance of US stocks in the AI sector has been nothing short of remarkable, with over $3 trillion added to its market cap since the final quarter of 2022. The upward trend suggests further potential growth despite a broadly stable or mildly declining US stock market outside the US Megatech sector. The enduring climb...
Looks like the idea of BTD (Buy the Dip) is still in place.
IMO not enough EUPHORIA for "crash" (like many are calling).
AMEX:RSP (equal weight SP:SPX ) was outperforming AMEX:SPY but that is no longer the case as of yesterday.
TVC:RUT AMEX:IWM also lagging but the chances are that it will likely catch up in time.
#stocks
W Formation formed on Russell 2000.
I missed the boat on this one. There are just so many markets so little time to focus on.
It had the perfect buy setup with all the criteria.
Anyways, those that got in, there is more upside to come.
7>21
Price>200
RSI>50
Target 1,973
ABOUT THE RUSSELL 2000
The Russell 2000 is a stock market index that measures the...
