The Russell 2000 ETF has seen a price run-up since early October as it emerged from an oversold condition. The recent pullback has created what may be a bull flag (magenta trendlines) that is close to breaking out. The IWM also seems to be gaining some relative strength vs the SPX which should bode well for this ETF gaining in price.
Upon further evaluation of...
HIGH RANK/IMPLIED EARNINGS:
UBER (--/74):* Monday, After Market Close.
BIDU (59/42): Wednesday, After Market Close.
ROKU (72/85): Wednesday, After Market Close.
The Plain Jane ROKU December 20th 120/190 short strangle camped out at the 20 delta pays 8.55, but there is some call side skew there that you may want to accommodate in some fashion, for example, via...
Follow it. We will either shit the bed or crack high.
If we shit the bed, likely will be a bit slow for a day or two - then tank.
If we crack upwards, who know. Up, then pullback to that sloping line, then back up - but I think there will be no pullback, more like a grind higher until next years election.
Small caps have yet to confirm the market breakout, looks to me like it's waiting for the Fed meeting.
Depending on the rate decision, we're looking at testing the 2018 top or scrolling back down to support.
No position. Something is very strange wit this market, and the Euros keep pumping futures. Best to wait for the Fed meeting.
I put a possible resistance coming up based on the rsi
id say if it broke we would continue this pahmp.
also the larger decade long TL is still far from being breached.
This remains bullish overall, but i think there is some momentum change possible coming up.
(That sounds so wishy washy but i swear its simple: R hold, short, R breaks, long)
RECAP - 07:40 17-Oct-19
I spread-trade mostly.
The guy who spreads and makes a little every day is the one who walks away with
the big money.
–A veteran trader, quoted in Futures
Trade to Trade Well- Not Make Money.
Spread positions tend to be less risky than outright long...
As much as I've wanted to see the US markets collapse, it appears that we may get one more thrust up. Bullish divergences are beginning to appear on the weekly charts with MACD posed to make a bullish cross-over. Without a sharp downward thrust in small stocks this week, in conjunction with volatility expanding, probability is beginning to favor the upside in the...
The Russell 2000 is near a support level relative to the S&P 500. As Fred Imbert of CNBC reported last week in his article "Small-cap stocks are primed to outperform large caps over the next 10 years," small caps tend to outperform large caps in the 12 months after the Fed cuts rates. With two rate cuts already this year and more likely on the way, small caps...