Russell 2000 broke again today under the 1D MA200 after failing to close over the 1D MA50 on September 1st. Despite numerous breaks under the 1D MA200, all candles managed to close over it. If today's close under it (first time since June 5th) along with the bearish 1D technicals (RSI = 35.725, MACD = -19.100, ADX = 32.380), we expect the price to drop more inside...
A "head and shoulders" pattern is a technical analysis chart pattern that can indicate a potential reversal in a stock's price trend. It consists of three peaks: a higher peak (the head) between two lower peaks (the shoulders). The pattern suggests a potential shift from an upward trend to a downward trend. However, the effectiveness of technical patterns like...
Long term perspective. Monthly and weekly charts showing a bull flag on this ratio chart with steep hidden bull divergence on monthly especially. If we breakout of the flag it means IWM in general will start to lose much more value than SPY. 2.85 is the bull flag target but it could exceed that. Keep in mind this is a monthly chart so we're talking months...
Context: Weekly - uptrend (UT) Daily - downtrend (DT) Last day: Value moved down but left very poor and weak high Special notes: Daily RSI is in oversold. Price at DMA200 support Conclusion: A lot of selling in the last 10 days. Market is getting too short and needs to cover those shorts before moving further down. Last day indicates lack of strong...
We tried to reject the Weekly trend line but looks like it was a fake out and we might see a breakout. We are sitting right at the weekly trend line with a bull flag on the daily timeframe Entry - 1990 Stop - 1960 (I would like to see a daily close below this level) First target - 2050 Final Target - 2100 Please share your views. Happy trading!
Looks like we have a good opportunity to go short on RTY. Rejected the weekly trend line and looks like we are forming a double top pattern in the 4 hr timeframe. Entry - 1980 Stop - 1795 ( I would like to see a 4 hr close over this level or the red sell zone) First target - 1960 Final target - 1930 Let me know your inputs. Happy trading!
CME_MINI:RTYU2023 If the price of RTY breaks above the bullish line of 1947.4, it may indicate a bullish signal, suggesting potential upward price movement. In this scenario, the target price could be set at 1964.5. Conversely, if the price of RTY breaks below the bearish line of 1937.5, it may suggest a bearish signal, implying potential downward price...
RSI rolled over but MFI is still overbought. Oddly ES and NQ MFI are oversold. Looking to be another mixed bag day, possible counter rotation out of small caps.
The least reliable of the indices, but RTY MFI is oversold. ES and NQ aren't even close, but they aren't moving much. Flipped my shitcoin (BITO) puts at open which is why I was late to post. Too bad I shorted BITO instead of COIN, that would have been some serious money. Disappointed in the gap down, much smaller than I hoped for. Staying cash today unless I...
Cryptos 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...
MFI hit oversold. NQ RSI is almost overbought on this huge pump. Remember ES is in the whipsaw zone again. I'm probably not trading today or tomorrow. Reducing the number of trades I make since the market is going sideways, and I'm not really making much money.... I'll put up a post, but it's still tracking that big blue arrow, lol. Since I'm expecting...
Hit overbought on RSI and MFI, but I think it's a pump and dump. Expecting a gap up tomorrow, maybe dump on Fed minutes? Keep in mind RTY can go way overbought or oversold, least reliable of the index indicators. TLT already looks like it's hit bottom, so I don't see a tank coming either way.
MFI no longer oversold, RSI almost overbought. If it gaps up again tomorrow, probably a pump and dump. Market usually whipsaws when Asia/US/Europe decide to go different directions. Next rally probably won;t happen until Europe goes oversold on the short term indicators. We'll see.
RTY has been strong recovering from the recent banking sell-off (for the time being). Looking at a few demand areas for longs. The first zone is mean to be an overnight set and forget. The closer the zone to the origin of the move the better the chance of it working so the lower DZs are likely stronger. Watch for tomorrow's 8:30am Retail Sales reports as they...
Retail numbers missed bigly, garbage retail stocks all down big today. Made some money off BUD puts, though I actually expected the numbers to be good, lol. Small caps down 1.4%, at this point I'm not chasing the drop today. However, it looks like RTY is headed to oversold again, so I'll look at it again this afternoon, maybe throw another $2k bet against some...
Nice whipsaw going, MFI went oversold premarket. Guess they're gonna pump garbage again, flipping my BUD puts on open.
As usual, small caps are the weakest, MFI already hit oversold. ES and NQ are getting close, but won;t happen until Monday. Not sure about gap direction Monday or if RSI also need to hit oversold. Either way, the market will signal a buy on Monday.... as usual I'll wait and hope for a gap down to make the decision easier.
RSI hit overbought and turned around, I dumped my PCAR calls on open because it didn't look right. Wasn't expecting today to be a pump and dump but numbers weren't that great. Made a couple of k's on PCAR, but really disappointed it didn't go up more. Market just whipsawing again, no positions, I have no idea what it;s doing today.