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IWM

$IWM – Bull Flag Breaking Out?Hooray for small caps! It is looking to me like AMEX:IWM (Russell 2000 small cap ETF) is ready to participate in the newest market rally. This is great news as it shows the market is broadening with more participation. I do not have a position yet, but I am looking to start one if this keeps showing strength. I may even use the 3x levered AMEX:TNA as a booster. (Cannot hold levered ETFs too long as they are geared for day trades). Ideas, not investing / trading advice. You can see I have outlined the Bull Flag as well as important moving averages. On the lower part of the chart, you can see the Volume has picked up, the MACD is rising and the indicator at the bottom shows market new highs new lows (new highs are green days). I hope this helps someone. Thanks for looking. Constructive comments always welcome.
AMEX:IWMLong
by jaxdog
GME: Falling Wedge Breakout to All-Time Highs is NearGME recently bounced from the lows on the lower timeframe thanks to a Bullish Gartley and a massive amount of MACD Bullish Divergence and it has since come back down to fill the gap the rise created; now that GME has filled that gap it is going for a second leg up and the RSI is entering the Bullish Control Zone, and soon it will be Bullishly breaking out a macro falling wedge pattern which if it breaks, I think could take it up to the levels of at least $120-$135
NYSE:GMELong
by RizeSenpai
2
Russell 2000 Order Flow: Bullish Pattern ActivatedHey traders, In today’s analysis, it’s hard to ignore IWM following the 🚀explosive🚀 8%+ move up. Let’s unpack the action as of late via the OFA script : To do so, I am NOT going to apply any subjective type of analysis such as crawing trendlines, counting waves based on what way the wind blows, or any other form of guessing… Instead, we let the formation of fractal structures (an objective measure of moves) create the pathway from which we can all make decisions. Fortunately, there is no need to engage in laborious manual work. Why? The OFA script has all of us covered. So, with that in mind, what can we observe in the IWM market? What recurring pattern do you notice? Clue - Pay attention to the visual CIRCLE feature in the last leg. These patterns entail, “dynamic fractal-based order flow cycles where a decreasing involvement in one direction (depicted by cycle/wave/line counts) is followed by a predictable move in the opposite direction with greater commitment seeking out the next equilibrium area, in most instances, with potential profits as a by-product thereafter…” If you are into disseminating order flow, nothing I’ve seen beats the objectivity in analysis one can carry out via the formation of structures derived off fractal structures. So, how are you going to profit from the latest pattern printed? I know how I will... Remember the two key main features of the OFA script: Magnitude: A major clue that will help determine the health of a trend is the type of progress by the dominant side in control of the trend. We need to ask the following question: Are the new legs in the active buy-sell side campaign as identified by the script increasing or decreasing in magnitude? Velocity: When it comes to the distance the price moves, the magnitude is only ½ the equation. The other ½ has to do with the velocity of the move or the speed. Was the new leg created after a fast and impulsive move? Or did price make a new low or high with the movement being sluggish, compressive and taking too long to form? A good rule of thumb is to count the number of candles it took to achieve a new leg. DISCLAIMER: This post contains commentary published solely for educational and informational purposes. This post's content (and any content available through links in this post) and its views do not constitute financial advice or an investment or trading recommendation, and they do not account for readers' personal financial circumstances, or their investing or trading objectives, time frame, and risk tolerance. Readers should perform their own due diligence, and consult a qualified financial adviser or other investment / financial professional before entering any trade, investment or other transaction.
AMEX:IWMLong
by FlowState
$U One for the WatchlistUnity Software made big news (or was it) with the announcement that their software would be part of Apple Vision Pro. This may or may not be a big deal. Apple my not have hit the mark on VR with a headset that costs near $4000… not exactly for the mass market, IMO. That said NYSE:U has been steadily increasing revenue and finally made a .01 cent profit last quarter (Hey, it’s profit). I have drawn in a blue line that seems to be an area of resistance since Sept 2022. There is also a green line on the chart which is an 18-month AVWAP. Coincidentally, they seem to be merging right now. That to me is important because “if” price can get and stay over both areas most of the resistance will be gone and it might be free to rise in value. All TBD. The other good news is that it is above the 40-week MA (white and all other shorter-term MAs). And finally, this is a nice long base, the longer the base the higher the move, or so it is said. I have this on my watchlist with an alert set at 42.50 so that it brings my eyes back to this and I do not need to watch it every day. Ideas, not investing / trading advice. Thanks for looking. Constructive comments always welcome.
NYSE:U
by jaxdog
$SHOP Ready to Buy?NYSE:SHOP – I have been looking at Shopify since earnings and it looks to me that it is ready to buy, in fact I started a ¼ size already this morning. See chart for my notations. This may be actionable “if” it fits your trading style. It has been basing for about 14 months now. A traditional break-out would be a close over May 23rds high of 65.54. I am early and already a little underwater, but my stop will be a close under the earnings AVWAP (lime green line). Ideas, not investing / trading advice. Thanks for looking. Constructive comments always welcome.
SLong
by jaxdog
Opening (IRA): IWM September 15th 146 Short Put... for a 1.46 credit. Comments: Re-establishing a September rung after scratching out a higher strike trade yesterday, targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market. The shortest duration trades in which the <16 delta strike is paying around 1% in credit: IWM: August (at the 154 strike, paying 1.58) QQQ: August (at the 296 strike, paying 2.99) SPY: September (at the 367 strike, paying 3.70).
AMEX:IWMLong
by NaughtyPines
$ARKK Still Working on Stage 1 BaseAMEX:ARKK – Maybe the best ETF to measure “Risk-On” in the market. I have been in and out of AMEX:ARKK a few times over the last 6 months. I thought it was going to start its stage 2 uptrend back in February. That was a false break-out. It is now back over its 40 Week MA, above all shorter-term Mas and has broken above an area of resistance (flat blue line). I really think this ETF has a strong possibility to rocket 50%, to 100% or more soon. In other words, I “want” to be bullish. BUT, after careful analysis, it looks like there could be some major supply until it gets over the 18-month AVWAP. I have an alert set at $45.00 which is still under AVWAP. But I want early notice and AVWAP should continue to drop in price over time. See notations on the chart for more details. Bottomline for me, it’s a trade that needs to wait. And like I said, I want it to work. Only time will tell. Ideas, not investing / trading advice. Thanks for looking. Constructive comments welcome I did another post on this a few weeks back. I have the link to that at the bottom.
CBOE:ARKK
by jaxdog
RTY UpdateCryptos and small caps pulled back, Europe and China were red this morning. ES and NQ are still overbought though with no pullback. Could very well be a melt up, still short on shitcoin through BITO puts. Nothing else, don't feel much like trading this week. Made decent money last week despite closing early on Friday, seems every time I make money I give it back to the market, lol. Might be easier to wait until MFI indicator goes oversold again and snag the next pump. Bearish on crypto because it looks like Asia and Europe are throwing in the towel, garbage trades 24 hours and the Asians own a lot of crypto. 3hr indicators are oversold though, not sure I'd recommend opening a new short position.
CME_MINI:RTY1!
by hungry_hippo
1
Bearish BAMM on the 3x Bearish Return IWM Bearish ETFThe 3x Bearish Return ETF for the IWM is currently showing Hidden Bearish Divergence on the weekly at the 55-week EMA, and it looks like if this Hidden Bearish Divergence plays out we will see the ETF fall below the B point and begin to accelerate its Bearish Wave Structure which would complete between the 1.272 and 1.618 Fibonacci extensions. This would mean that the IWM (The Russel 2000) itself would be rising. As a result of what I see here on the chart, I may consider buying puts on this ETF, Buying IWM Calls, or just overall getting more exposure to small caps and just taking this as an overall Macro Bullish Indicator.
AMEX:TZAShort
by RizeSenpai