The Russel 2000 has broken through a long standing Darvas Box resistance level (yellow horizontal line) on the Weekly chart.
This has formed a rectangle base in the Russel 2000 with a 23% gain price target , calculated with a 1 to 1 upward move from the top of the Darvas Box resistance level to new highs on the Russel 2000. This is not investment advice.
Our View
Markets have rallied to record highs thanks to growing optimism that the US will be able to tame inflation without triggering a recession; and that the Fed will cut interest rates in 1H 2024. In a soft landing, we expect investors to start looking for bargain-buying opportunities in overlooked corners of the market including small caps.
From a...
IWM had a strong week.
It is still in what I consider a Resistance Zone.
So I'm currently looking for bearish positions and signs of weakness.
Notice that IWM has generated strong moves before that turned out to be false moves.
It will be interesting to see at which price levels we'll close the year.
Last week we saw the December E-mini Russell 2000 Index futures continues its bullish run with its third consecutive green candle closing into the Ichimoku cloud and above its 52-week moving average. With this move up, the MACD showed a bullish cross indication by crossing its signal line. RSI is trending up along with price. A continuation of this uptrend might...
CAPITALCOM:RTY AMEX:IWM looks primed for a breakout. it's been lagging the other indices and with rates going lower, a lot of growth names could see some headwinds here. Market likes to get ahead of itself. From a technical perspective, it broke the downtrend from prior ATH before but failed and now it's trying again. Could be a good move out of it
Looking for the Russell 2000 bulls to stay resilient at 1800 for a short term hourly move. Euro may support the move as DXY's fall through 105 is helping growth
Quick idea here as we look to get back in a groove with analysis/posts after a very light October. Not going to include a lot of elaboration, but we're looking to take advantage of a swing short (price depending) via a low timeframe (5-minute) RTY supply zone (defining candles not pictured here since sub-15-minute charts cannot be posted). If price approaches the...
Russell 2000 Futures (RTY) rally from 10.28.2023 low has ended in 3 waves at the 100% – 161.8% Fibonacci extension. This suggests that the rally is corrective in nature. Up from 10.28.2023 low, wave A ended at 1779.6. Pullback in wave B ended at 1687.40 with internal subdivision as a zigzag Elliott Wave structure. Down from wave A, wave ((a)) ended at 1727.10 and...
11.16.23 I thought I would take a look at the Russell futures because I think there is a reasonable probability trade to short the market with a small stop.... and yet this was a bullish market yesterday. I would have placed the stop very close to my trade entry. I believe the short trade is a higher probability trade but it is a lower reward trade Unless I...
11.6.23 Both the es and the Russell were good long trades.... but I would be looking for sellers despite the bullish price action of these markets. The es is more bullish than the Russell... but they're different markets in that one has been trending lower and has a 382 correction( the Russell), And the es is behaving with more strength... even though there are...
Have Conferences atleast 3 volume is key in my trading when it comes to a high place of interest like a trend line or a supply or demand zone or even a respected ema . Watch the trend of the day on more then two time frames lines . Watch for test and retest never enter on the first move . Stop loss always and set it and forget if your wrong your wrong control...
11.2.23 8:30 am. This video I start with the ES Which gave us a great reversal. this was a high probability trade because the market simultaneously came to a support area, an extension, And evidence of buyers. This is why you can use small stops. On the other hand when you find markets like this you do not generally want to drag your stop higher because you'll...
Looks to me like a 4 day short squeeze, indicators are not overbought yet. Fed meeting tomorrow.
Thing is, they're pumping garbage stocks right before earnings. There may be opportunity to short garbage on earnings next week.
Russell 2000 (RTY) is close to breaking below 6.16.2022 low at 1640.70. A break below that level will open a bearish sequence from 11.8.2021 peak favoring further downside. Short term Elliott Wave View suggests that cycle from 8.1.2023 high is in progress as an impulse Elliott Wave structure. Down from 8.1.2023 high, wave 1 ended at 1832.8 and rally in wave 2...
Let an open gap and got way oversold overnight, now it bounced premarket and filled the gap.
Small cap futures green, market is due for a bounce, but I don't think I'm gonna play today. I'm beginning to like cash and sleeping in, the market isn't going on an extended rally.
RSI now oversold on RTY, ES, and NQ MFI is not oversold yet, and last week MFI stayed oversold and flatlined.
Risk/reward is not there for me to play a bounce, especially now that PCAR earnings pump appears to be over. If anything, I'll short next time I see the 3hr go overbought.
I don't see a market rally happening until after the Fed shutdown, gonna avoid...
10.24.23 6:30 am eastern This video shows the dollar, The Russell, The ES, Tesla. Most of these markets were breaking lower and were easy shorts.... it is possible that they may find some buyers, But these markets left strong sellers that have been controlling the market for the past few weeks. In the last few weeks these markets were easy to short and much...
Well, RTY and ES RSI hit oversold.
I have no idea what this selloff is about, I'm just gonna stay cash. Might day trade tomorrow if I see something.
Really strange day, Powell didn;t say anything new, and he had a more dovish tone than last time.
