M2K1! trade ideas
IWM/RUT going for megaphone top touch, short to commenceClassic top of megaphone -- Market up but showing weakness. SPX similar situation, but dollar waking up and showing real strength now. Time is ticking
Long RTY / Short ESIf we're above these levels I gotta consider adding something like this position. Just a lil bit. And ease in more if it's working. RTY/NQ is also looking like a massive base is forming, but I feel like it will take more time to heat up. At any rate, at some point this train is leaving the station. Just don't want to be too early or too late.
RTY MFI overboughtI have no idea why the market is pumping the piss out of small caps....
MFI overbought and chart pattern suggest a possible exhaustion gap tomorrow. Bought RGR uts this morning fortunately the small cap pump hasn't impacted it much.... yet.
Russell Version to the Mean
Continuing my idea from yesterday - multi day picture shows whats been going on.
Interesting is the volume profile - or rather the lack there of - this a one hundred point plus move that was initiated before the latest vaccine news.
Lots of measurable divergences - but the forces that be are keeping this up - the cumulative deltas have gone negative.
Look forward to seeing this return to the mean.
Russell Back Test
I monitor to RSI of bunch indexes using TV alerts - last night RTY was under 25% - and now it just turned to 75% as I'm typing.
However this looks like a back test before we move lower, impressive ranges in the Russell - its moving as much as the /ES on daily basis.
Good dose of divergence at this point which is outlined in chart.
Naked VPOC at 1744 that needs visiting - that's 40+ lower.
RTY MFI way overboughtSmall caps tend to fill gaps and there's a lot of them below. Not shorting yet, but if you're so inclined, I'd go Dec puts.
RTY MFI went oversold overnightRTY MFI went oversold last night, obvious sector rotation as small caps are outperforming everything else.
R2K Short Russell 2000 has closed above Bollinger Bands for three consecutive days on the daily chart. The daily RSI is 74.63. There are, of course, fundamental reasons for the aggressive buying. But it needs to cool off. I am looking to short when the selling begins.
