MichaelRudelich

PRO
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About me Day Trade the indices; mostly the Russell 2000. Fun!
Joined NYC
Markets Allocation
100 % stocks
Top Mentioned Symbols
IWM 54% | 6 TNA 18% | 2 SPY 18% | 2 AAPL 9% | 1
SPY: TARGETS ABOVE & BELOW
32 0 2
SPY, D
TARGETS ABOVE & BELOW

The market is still in its month long trading range. The odds still favor a new high, but every day that fails to get there reduces the probability. Even if the bulls get a new high, it will probably not go far. The bears need a good reversal set-up; like some form of a double top, and a big bear bar. Then they have a chance of at least a few days of selling. ...

IWM: TARGETS ABOVE & BELOW
36 0 2
IWM, D
TARGETS ABOVE & BELOW

The market is still in its month long trading range. The odds still favor a new high, but every day that fails to get there reduces the probability. Even if the bulls get a new high, it will probably not go far. The bears need a good reversal set-up; like some form of a double top, and a big bear bar. Then they have a chance of at least a few days of selling. ...

IWM: 50% Retracement Levels to Watch
49 0 2
IWM, D
50% Retracement Levels to Watch

(12-15) A couple of useful retracement price levels are indicated at the RED LINES on the chart. The current pullback's (or bear leg's) 50% level, and the 50% retracement of the last bull leg. The current bar could not hold above the 50% level of the current move down. Odds favor that the current bear leg is a pullback on the daily chart, rather than a ...

MichaelRudelich MichaelRudelich PRO SPY, D, Long ,
SPY: NO TOP YET & MEASURED MOVES
112 0 2
SPY, D Long
NO TOP YET & MEASURED MOVES

There is NO TOPPING PATTERN YET for the S&P. Until something changes, this is still a Bull rally (even if it is over-extended). Price could drop quickly, but sideways & down is the more probable scenario. The Measured Moves are derived from the Reference Range; each tier is a clone of that range. I tested it going back down, and one can see it fits pretty ...

MichaelRudelich MichaelRudelich PRO IWM, D, Long ,
IWM: No Top Yet & The Measured Moves
45 0 3
IWM, D Long
No Top Yet & The Measured Moves

(12-7-16) There is NO TOPPING PATTERN yet for the small caps. Price is approaching the Large Range Measure (blue lines), and has followed my Small Range Measure quite nicely. Price could drop quickly, but the more likely scenario would be sideways & down. Until things change, this is still a Bull Trend (even if it is over-extended). My bias is long, but ...

IWM: Measured Moves for Pullback and Trend Resumption
53 0 1
IWM, D
Measured Moves for Pullback and Trend Resumption

Here are the support levels (measured moves) I'm looking at for the pullback (and sideways trading). They would also be the measured moves if/when price moves back up. They are the same measures I found on the 60 minute chart. I sold my long position during the 3rd bear bar, once it moved down into the second tier (measured move) from the top.

MichaelRudelich MichaelRudelich PRO IWM, D, Long ,
IWM: Pullback, New High, then Sideways & Down
71 0 2
IWM, D Long
Pullback, New High, then Sideways & Down

IWM has pulled back for 2 days after a ridiculously strong bull trend. The pullback might last another day (or two). The odds are that it will make a new high, then evolve into a range, and probably drop off. Not sure yet how far up the new high might be; let's see how far the pullback goes first.

MichaelRudelich MichaelRudelich PRO IWM, D, Short ,
IWM: Downside Breakout
61 0 1
IWM, D Short
Downside Breakout

Could be more sideways & down trading. Since markets usually start rallying in late October, a downside move might be brief. Blue lines represent possible measured moves down. Also note the gaps; they generally get filled.

MichaelRudelich MichaelRudelich PRO AAPL, D, Long ,
AAPL: AAPL TRENDING THROUGH RESISTANCE
38 0 1
AAPL, D Long
AAPL TRENDING THROUGH RESISTANCE

Bought this at 118., but the recent pullback created another opportunity to buy. A nice break of the bear trend line and a breakout of the consolidation.

MichaelRudelich MichaelRudelich PRO TNA, 5, Long ,
TNA: LONG TNA @ 57.00
26 0 0
TNA, 5 Long
LONG TNA @ 57.00

Took a hefty position @ 57.00. Target 1 is 58.18, Target 2 is 59.45, based on range height. Intra-day trade only. Got out @58.10.

TNA: SMALL CAPS DEJA VU
236 0 0
TNA, D
SMALL CAPS DEJA VU

Russell 2000 (Small Cap Stocks) back where it was one year ago and several times since.

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