RTY Update
Updated
Not at all what I expected today, small caps leading the market down. I don't recommend a long position until RTY goes oversold.
Asia and Europe usually don't pump small caps, so it's probably toast this week. Chart pattern is extremely bearish.
Asia and Europe usually don't pump small caps, so it's probably toast this week. Chart pattern is extremely bearish.
Note
I don't think gap direction matters tomorrow, I think small caps and retail continue the tank unless Powell decides to pump the market again.We'll see what happens tomorrow.
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Chart patterns can be deceiving because the news is always different, but boy does this chart pattern look a lot like last April.In any case, bearish for tomorrow since ES and NQ still need a retrace.
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Not sure I want to draw my followers into the trade but i did buy a few ELF puts earlier today
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