RUSSELL 2000 retracing in a uptrend
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We have what appears to be a reversal pattern here with the Russell 2000. You can call it a head and shoulders although not textbook. Again it shows a shift in trend from higher lows to now lower highs.
The neckline has been broken, and I am using the 1575.80 area as my lower high swing.
Lot of debate on what leads, the mid caps or large caps. In my experience,...
US2000 Russell aims for a Bearish target of 1520.00.
Daily range pattern being traded off highs to previous daily lows.
This comes immediately after the Dollar gains momentum as the market digest the statement - FED RATE SEPTEMBER 2019, as the dot-plot shows no additional cuts through the end of 2020.
It also shows that ten members...
All these predictions are made by Quantitative Analysis Algorithms following short term trends. These Quantitative Analysis Algorithms will calculate maximum correction relative to previous impulses.
Relative to previous bearish impulse we are now in a bullish correction. So algorithm expecting a short term bearish impulse.
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We ended the late June to July 15 Seasonal trade with a huge bang... except Russell 2000 lagged terribly. Notice the potential rejection of the June close here along with the top rail of the big wedge.
Seasonality starts July 15/16 and Russell along with DAX are the worst performers.
Looking at the 1590 and the 1550 area on the russel index as a clue to help guild what direction to trade any of the other 3 major indices and the rut, so in between these values could be a choppy trade
Although I strongly discourage the action of shorting in my personal strategy this doesn't keep me from speculating on the possible price fluctuation of the index. Viewing recent recessionary signals such as the inverted yield curve, raising tensions in the US-China relation as well as US-Mexican relations I've come to the conclusion that there might be something...
If only every single trading day was like this one.
15 minutes in and I was able to call it a day. A very nice follow through right as I entered the trade, the market never looked in the opposite direction.
The thing I have to improve on is when I'm scaling out to maybe leave the last portion run a little more instead of setting a "hard target".