US2000 - 24h expiry
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
We are trading at oversold extremes.
This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher.
Previous support located at 1924. Preferred trade is to buy on dips.
We...
Rusell 2000 maybe leading the rest of the market to the downside.
Russell has exposure to financial and energy, more so than nasdaq and large cap sp500.
MMFI- is the percentage of stocks over the 50 day moving average. Useful in indicating how broadly bullish or bearish the market is, how the crowd is leaning in sentiment.
VIX- is volatility index which...
US2000 could rise towards a pullback resistance and potentially reverse off this level to drop lower.
Sell entry is at 1,987.83 which is a pullback resistance.
Stop loss is at 2,024.47 which is a pullback resistance that sits above the 61.8% Fibonacci retracement.
Take profit is at 1,923.50 which is a pullback support.
High Risk Investment Warning
Trading...
If you haven`t bought the RUT 2K regional Double Bottom here:
On Tuesday, Fitch Ratings downgraded the US debt rating from the highest AAA rating to AA+, citing "a steady deterioration in standards of governance."
This downgrade occurred following last-minute negotiations among lawmakers to secure a debt ceiling deal earlier this year, which put the nation at...
If you haven`t bought the Double Bottom on RUT 2K:
Then you probably know that small caps haven`t participated in the 2023 market rally.
That`s why I believe investors will will for opportunities in the small cap stocks in 2024, and Russell 2000 index might offer a bigger return than the S&P this year.
My price prediction for RUT 2K is $2560 by the end of the year.
Russell 2000 (RUT) gave us an excellent buy entry on our last call (see chart below), as we achieved the most optimal buy near Support 2 and rallied all the way to our 2000 Target:
The Resistance Zone broke and this delivered a new 20-month High on the index, the effect of which is more accurately seen on the 1W time-frame. The question is, how sustainable...
AMEX:RSP vs AMEX:SPY
Equal weight vs regular #SP500
We can see that equal weight has been performing better
Russell 2000
TVC:RUT is no longer stuck in a rut :)
It had a fake breakout in the daily charts in August but look at it now.
That weekly is looking Nicely!
We've stated a few times that we believed these 2 would be moving better than normal...
Why is this so hard to accept?
US small cap stocks have been steadily losing (in real terms) since 2018.
Can even make a case the bull era for gold has started back in June 2019 against them.
The chart provides unbiased and objective evidence.
#gold
Looks like we are building a base for the next move higher. it will not be an easy ride - but aiming to target 2100 on RUT followed by ATH. Taking it week by week - since i am a day-trader will not hold till then. piece by piece - grab your money and run. On a break of the Monthly FVG - a potential pullback to the optimal trade entry should be considered. A...
With 3 time rate cutting in 2024, it will benefit small cap due to loan/debt interest repayment.
This will help the small cap companies.
On daily time frame, RSI is at overbought level which you may want to be caution to chase the bullish trend. Waiting for pullback to long.
Break and close above 2010 = may see 2150 follow by 2300 in year 2024.
On weekly time...
I was forced to relabel my interpretation of the Russell 2000 after the July 2023 high was broken. The structure is now labeled as a regular flat primary B wave correction that is either complete, or nearly complete. The next wave down should be rather fierce, as C waves tend to be. Wave C will decline in 5 waves to meet the depth guideline near the terminus of...
Small cap have been trading sideway since Jun 2022 with the resistance around 2k.
With end of year rally, it may benefit small cap index.
Eying to return back to 2k resistance level.
Levels plotted to look out for, combined with daily and weekly MAs to be used as S/R confluences. RSI and MS are indicating a possible reversal, not a signal itself but a confluence to the shorts from S/R levels. You should also check US500 and US30 before shorting.
Russell 2000 Start of movement in second line stocks
The index was until the last few days very close to the pre-Covid rates
Now starting to wake up with huge potential
We have stopped at a former triple bottom which has been tested as a resistance twice now already.
So it may become a double top now. This the more that it was a top on May 23rd already.
The Moving Average is another resistance.
On November 14th we have opened window that may want to be closed.
Mind the trading range from mid March to 20th May which you can see...
Russell 2000 crossed again today overo the 1D MA200 and it remains to be seen if it succeeds at closing above it. After the November 15th crossing but failure to close over it, a repeat may materialize a pullback of at least -4.50%, in similar fashion as the 1D MA200 rejections of May 23rd 2023 and November 1st 2022.
Technically that's possible as on the greater...
The Russell 2000 index consists of 2,000 small-cap companies, making up the smallest segment of the Russell 3000, which covers approximately 98% of publicly traded stocks in the U.S. Every June the index is rebalanced, adding new companies or removing existing ones.
Currently, the market is focusing on the positive aspects of the data and favoring the demand...
