RTY1! trade ideas
RTY Bullish MomentumWith the ES and NQ seeing some major weakness there seems to be a market rotation out of the tech sector and into small caps. The reason I like RTY for a continuation of bullish momentum is because price action is setting up in a bullflag with higher swing lows and two strong wicks through the top trend line possibly taking out some sell orders clearing the way for the bulls to push through.
This could also be the formation of the W pattern. There is a triple top at the neck line of the W pattern at 2273.9 which is a key level that if is broken would signal more bulls to enter possibly pushing to test 2304.5. Resistance after the double top would be at 2340 which is the measured move from the neck line down to higher low at 2204 (677 ticks).
Near Term Trade Russell 2000With the view from Tom Lee of Fundstradt he believes the Russell will hit an ATH of 3000 by summers end and I believe he is correct. For the month of August a 15% climb or more is in the cards for August. A near term trade. The technicals are in place for a near term trade.
RTY/IWM PPI, CPI, Powell- Price still consolidating around the breaker. Price will need to close above 2087 to start making its way back above 2100.
If not, we can see price push to the FVG lower at 2035 and lower.
- RTY are full of small/mid cap stocks that work with small balance sheets and deal in leverage. They are the most sensitive to rates since most of CASH POOR. If we get a hot CPI report signaling a delay in rate cuts, this indice will sell heavy
- Flip side, if CPI comes in COOL or inlines , we can see this indice rally hard on the notion it will get some relief for the companies involved
RTY Long IdeaRTY has been relatively weak all year, but has been tradable, at least I think so. It just had a big downtrend breakout and failed. It's retesting the trendline now, it's likely we see a bounce here and potentially a move up to supply. If not, demand below is the next target. If that breaks, it could get even more momentum to the downside.
Super waveycheck out some of my ideas. also I don't take every trade idea that you see here
these are assumptions before price action completes and confirms. The point of my ideas is try to predict price action everyone knows that's next to impossible but I'm having fun.
I am not a professional trader nor am I technical . all ideas are based on what I understand price to be. when I see certain confluences that fits my trading strategy I then look for my opportunity to enter trades.
to many egos here. we are all independent traders navigating the market. happy trading
Oil ES mini Russell June 11th 2024 in this video I spent some time on crude oil where you might consider trading it as a buyer or a seller, I would be a seller if I had to trade the market where it is now---- always with a small stop. The es has a reversal move here to Short so... if I shorted it I would have a very tight stop, and I probably wouldn't short it because the price action is still near the high. the reason I wouldn't go long on the ES is that I'm looking at a 2-bar reversal that would suggest it's going lower it's a conflict. however, on the Russell this Market has a lot more bearish price action leading to where the price sits at this point, and this is why I would prefer the Russell that represents 2000 stocks versus the S&P which is 500 stocks... I believe that the Russell is telling you that the market is in Jeopardy of going lower because of its more bearish price action.
Russell 2000 Looks Almost Ready For a Change In TrendRussell 2000 Looks Almost Ready For a Change In Trend
Price looks ready to complete the Head & Shoulders pattern.
We have to be careful as it is not a complete pattern but it shows the possibility that the price may complete the right shoulder near 1925 over the next few days.
If the price manages to break out of the neckline of the model, then we should look at Russel 2000 moving down near to 1780 and 1700.
You may find more details in the chart!
Thank you and Good Luck!
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RTY Bull Flag - Doom After?RTY retested its major ascending channel it fell out of before the sell off last month. Currently has a short term bull flag that I could see it getting broken to the upside, but then it'll have to contend with that major trendline again and may lead to a failure. On top of that, it also forming an ascending wedge. Seems bearish to me.
Why Large Firms with Huge Cash? Small Firm Are Leading...Berkshire Hathaway, an investment company is not investing. What is the signal?
Why are they hoarding cash?
• Not much good investment opportunity ahead
• Preparing for tougher time
E-mini S&P 500 Futures & Options
Ticker: ES
Minimum fluctuation:
0.25 index points = $12.50
Micro E-mini S&P 500 Futures & Options
Ticker: MES
Minimum fluctuation:
0.25 index points = $1.25
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RTY/IWM DAILY CHART WEEK OF PPI, CPI, POWELL- Price still consolidating around the breaker. Price will need to close above 2087 to start making its way back above 2100.
If not, we can see price push to the FVG lower at 2035 and lower.
- RTY are full of small/mid cap stocks that work with small balance sheets and deal in leverage. They are the most sensitive to rates since most of CASH POOR. If we get a hot CPI report signaling a delay in rate cuts, this indice will sell heavy
- Flip side, if CPI comes in COOL or inlines , we can see this indice rally hard on the notion it will get some relief for the companies involved