IWM is currently in a strong accumulation area based on the volume profile delta. The indexes were a bit oversold after yesterday's CPI report and FOMC minutes, leading to a bounce in the afternoon. I am skeptical as to whether today's PPI report and fed speakers will have the same effect so I closed my puts. Here is my reasoning:
VIX keeps rejecting above...
Price is landing on an important support zone, weekly support. I'm buying calls as shown. I think the double bottom pattern still active, and this is just a test of the broken resistance at 200.
What we know? Oil is likely bullish in 2nd Half (24'). BTC leads the small caps. TNX usually works as a head wind (and has took a pause). Rate cuts are very bullish for small caps and financials benefit in this environment?
technically; the 20dma works as a driver. 50dma and 200dma just gives you context. You can add MACD to confirm things.
Im speculating that...
Credit to Mr. Tom Lee for this one. Small caps are at a multi-decade low in value relative to the S&P. The Fed beginning to cut will be the catalyst for a huge move in the Russell over the next 12-18 months
The chart posted is the IWM since the late oct 2023 low at that time my work and models calle for a 5 wave rally in wave C up since that low we have had more and more talking of an UPSIDE MELTUP and that the place to be loading up long is the IWM with some many talking a gain of 50% and to see 300 . Well I can tell you that has a 2 % chance . We are fast...
AMEX:IWM is breaking out. It is heading towards $230!
Stocks in the Russell 2000, like NASDAQ:RKLB and NASDAQ:SOFI , have yet to see IWM gains. But soon, they will get their time in the spotlight.
... for a 1.82 credit.
Comments: Targeting the shortest duration <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market. There is no July contract yet, but June is still paying at <16 delta ... .
AMEX:IWM TVC:RUT CAPITALCOM:RTY small caps hit major resistance (the yellow zone) and finished the day with a shooting star candle. More downside is needed. This syncs with other indices NASDAQ:QQQ AMEX:SPY
Russell 2000 index - exit from channel towards long, above average 150, depends on the drop in interest rates in the US, potential increase 11% & more.
Only an idea and not a recommendation for trading!
double top pattern in play after IWM and RUT failed to breakout higher with the rest of the large cap indices.
patterns alone can be deceiving, but fundamental risks support this double top thesis.
banks risks, higher costs from supply chain constrains and or inflationary costs in play.
Higher rates may be finally hitting consumers and businesses as an extra...
... for a 1.63 credit.
Comments: Laddering out at intervals, targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market.
Will start looking at adding in shorter duration if I can get in at strikes better than what I currently have on.
below the box we fall, in the box we range, above the box we reclaim the trend. am new to this style of trading. if you see something i dont, feel free to let me know.
view the chart on the 7 min and it makes more sense, at least to me. smaller timeframe channels like to respect each other. maybe its a new thing maybe its not but its new to me. really interested in how this plays out. premarket tells all
IWM, the ETF tracking the Russell 2000 index, is exhibiting a noteworthy alignment with the parabolic SAR indicator, indicating a potential momentum shift or trend continuation. Given this alignment, investors should maintain a keen focus on IWM's price action and behavior. Moreover, the upcoming release of the Consumer Price Index (CPI) data may serve as a...
Let's delve into the fascinating world of IWM and explore its weekly chart. Get ready for valuable insights and potential trading opportunities. 🚀📈
🔄 Cycle Analysis:
By analyzing the cycles, we've identified a cycle period of 48 weeks for IWM. Interestingly, we've divided each 48-week cycle into three distinct parts, allowing us to pinpoint key moments within the...
