RTY chart, held support where it had to, at the must-hold resistance now
There is a pathway for the overshoot/fake-out move I mentioned before; there is time till the Fed meeting.
Its at a perfect r/r for a swing short.
I might post one more chart tomorrow.
It’s been a while since we looked at the Russell 2000. For the uninitiated, the Russell 2000 index is a small-cap stock market index that is made up of the smallest 2000 stocks in the Russell 3000 Index.
The small-cap nature means a few things, volatility tends to be higher for one. And capturing this downside volatility using the Russell 2000 as compared with...
I hope everyone is having a great weekend.
RTY is in the bull channel all week, similar to NQ’s rising wedge.
As you can clearly see, RTY is way oversold on the 4h chart (MACD, RSI); this will get a strong rejection of the next resistance zone imo
Looking at the cycle,s we still can push into Tuesday am open to test the major trendline around 1915-18 (depending...
After another head and shoulder that broke to the downside, we find a similar pattern playing out. As the RSI is pointing down whilst there is a downtrend in play, we are looking for the head and shoulders to be completed and break down.
The next target corresponds with the previous supports of dec. 2018 and aug. 2017.
Im not currently trading RTY, but it has the weakest structure out of 4 bog indexes.
With the today's rally, RTY rallied the lest compare to the ES and NQ, where ES was leading on the upside, while NQ gave up less when it started to sell
For those who trade RTY, there is a great short setup is setting up
Waaaay overbought but it does have a cup and handle pattern going on. I think we get a reversal tomorrow and a dip Tuesday.... or maybe a dip tomorrow, I dunno.
CPI was bullish but I don't chase overbought markets. Will decide what to do Tuesday. Bought some PDD puts just so I watch the market tomorrow. Just guessing that Asians were the ones dumping futures...
We have a clear 5th wave in progress.
The 5th wave will complete the A-B-C zigzag, where wave C is a slightly less aggressive slope than wave A, as is usually the case for a Elliott zigzag
Blue Line from wave 2-4 cloned and placed atop wave 3 shows the end of wave 5
Wave 5 / Wave C end near the 100% extension of wave A
The end of blue line for wave 5/C ends Feb...
The price is above Monday's high, which suggests one more push going into the CPI numbers
I have mentioned also in my SPX , NQ and ES updates about the possible inverted OCT 13th CPi release move tomorrow.
A Gap and Crap full report was posted last night and updated today
The RTY one hour time frame is in a channel. The
market is near the top of the channel. As long as
the market stays below the top of the channel. It
is expected the market to push bearish towards
the bottom of the channel.
Entry: counter trend line break bearish
below the top of the channel.
STOP: In the buy zone above the entry.
Once or if the...
This analysis is meant to provide a long-term outlook for equity markets.
I also use this to support my data-driven, long-term investment decisions. Sharing this with the public helps me avoid one of the most common mistakes investors make in the market - missing the forest for the trees.
Table of contents
Central banks policy