RTY Still overboughtOther that RTY MFI being overbought, indicators for all other indices are neutral with no direction.
I'm guessing light profit taking today....
M2K1! trade ideas
How much more of a spread can there be?Since the lows in March the Russell 2000 index has out preformed the SP500 by almost 40%! It is even up over 20% from the range highs in October. It has been a truly historic run but is now a good time to hedge or take profits? We are long equities broadly but have been hedging into the new year to preserve gains. You can never lose by protecting yourself. The Russell might be the best instrument to use give its huge outperformance. Yes financials and other key sectors in the index have been strong and yes their strength may continue but nothing moves in a straight line forever.
RTY UpdateMFI obviosly overbought, loos like RSI hits overbought tomorrow, so possible pump and dump coming.
Down russell, down boy. USING KISS method to this chart. Says volumes... yesterdays little dip gave birth to this Beautiful pattern. Tomorrow might be the day this bad boy finally listens and sits down. Mega long rising wedge on the daily chart complete with nice overbought conditions.
This is my spec find yours
IWM, Russell 2000 retracement?The Measured move of this triangle has been reached. I had a good strangle trade on IWM with calls/puts purchased before election. Strangles are terrific strategies when you know a big move is coming and the leverage of options can 5-10x or more in these type of moves. I'm now hoping for a pivot down in the market.. it could be mild- I don't know. We could melt up until end of 2022 but I'll be patient for retracements.
RTY OverboughtRSI overbought on 3 hr, daily, and weekly
Somethings gotta give... no volume at all today.
Hard for me to get bullish when I'm expecting this to drop
RTY - ATHs
Look at today Volume Profile on the RTY shows value was lower today than yesterday but they pumped the price to all time records.
The Russell is without a doubt defying gravity - but sober look shows where the 5 day and 20 averages are.
Congrats to all those who are long that said.
Interesting tool from the public library may show us whats going on under the hood.
The trend volume accumulations (TVA) indicator allows determining the current price trend while taking into account volume , with blue colors representing an uptrend and red colors representing a downtrend.
RTY [$IWM] | Bearish Head and Shoulders: Potential Gap FillWatch for a strong breakdown of the neckline. Target is Sunday gap fill.
Good luck
RTY MFI overboughtJust saying.... I wouldn't buy the dip today even though I expect an afternoon bounce.
RTY - Up, Up and .... This four hour chart has the answer.
When this trend line breaks - which looked like it was today - but not just yet.
Suspect this will be violent. However timing this is tough ( I have been wrong on this one) - best watch for trend line break . They will prop this up as long as "big money'"chooses, that's clear.
The USD falling really is responsible for this rally - the DXY is at levels not seen since April 2018. When its decided to reverse the USD the rally is done. Watch for divergences in the Euro - this may tip us off.
IWM calls made up 24% of the option volume and puts made up 76% of the volume today. The Commitment of Traders show that commercials are very short and large speculators as well as retail are very long as of last Friday.
RTY OverboughtNot sure there's an opportunity to short, but I certainly wouldn;t chase it from here.
RTY1! at 200 Hullmalooks very tired.
Disclaimer, this is only for entertainment and education purposes and doesn't serve by any means as a buy or sell recommendation.
Personally I hold both long term long positions and occasionally short term short position, for disclosure purpose.
RTY Test 6+1 Trend trading
+1 High time frame (1H ~)
+1 Candle Trading
+2 Using the moving average
Strategy Quality 5 / 10
RTY [$IWM] | One Last Push to All Time Highs Before A CorrectionPrice broke out from a bearish ascending channel and has since been consolidating within a bullish flag
A break out of this bull flag should push price higher (~$1900) where it will likely find resistance.
I will look for short opportunities around the ~$1900 psychological level and/or wedge retest.
Upside targets: $1880, 1890
Downside targets: $1850, $1810, $1750
RTY UpdateDoesn;t look like the market will dip until both RTY and YM are overbught.... so probably tomorrow afternoon or Monday
RTY UpdateSeems to be the only logical reason why teh algos are pumping futures.... to get RTY out of oversold territory.
ES is overbought but the market appears to be mlting up anyways. Thursdays are usually bearish, so not chasing the pump
ES and RTY consolidation targetsES / SPX
ATH gives a bullish stance but looking for a correction / more consolidation first.
Looking to retrace to first stop @ 3630
POC for the current run up from 02 Nov 2020 is @ 3560
RTY / RUT
Consolidating below POC, if there is a close below 1822 a retracement to VPVR nodes is likely
First Retracement to 1800 (weak support) then to the next much more solid node @ 1780
A close above current POC of 1845 will generate a probable break of ATH
