RTY Daily ChannelThis is why I said there might be a melt up next week. RTY has been in the same upward channel since the tariff tank. You figure as bullish as this market is, it needs to hit the top of the channel in a breakout like this.
Will not be shorting IWM next week. Long on shitcoin for the week based o
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RTY Update - No TACO on ThursdayI keep saying that futures gap underneath needs to be filled, and small caps have the longest way to go to get there. So I bought some IWM puts this morning, and decided to hold it even though it looked like a repeat of yesterday right after lunch. I figured MFI wasn't oversold, and worst case, I
RUSS 2K....GOING WHICH WAY? HMMM CME_MINI:M2K1! Bias-Bearish HOWEVER!
Price is hitting some key areas and will show us whether it continues or dumps to key levels.
PP-2522-2514 are fib zones in a FVG so price could most def push higher to the S.O.B above (which is what a majority of signs show). However my personal belief with a
RTY Small Open GapRTY has a small open gap from the Thurs 1 hr break that does not exist on NQ and ES. Pennant breakdown also looks bearish.
ES did not go oversold on RSI last drop like RTY did, so maybe ES melts up and RTY doesn't? Small caps can diverge from NDX and SPX. Also, RTY didn't break out to a new ATH
RTY Premarket UpdateMFI is overbought on RTY, ES, and NQ. VIX died last night so not expecting a huge tank unless CPI numbers are really bad.
I think I have a new rule now, TACO gaps don't need to fill, lol. We had 2 previous TACO gaps in the spring that went unfilled as well.
We'll see what happens next week.
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