RTY UpdateMFI went overbought, that's my cue to bail. RTY is the only index still cycling.
ES and NQ are also overbought, but not sure when the melt up will end. Could be today, could be July, lol
RTY1! trade ideas
RTY UpdateI said this morning it was oversold. Finally showed some life in the afternoon.
I don't plan on shorting anything until RTY MFI hits overbought. at this point it looks like Monday or Tuesday.
I've got enough cushion on my long positions to hold until tomorrow. Probably going cash for the weekend.
RT UpdateAppears to be the only index cycling, everything else is melting up. MFI went oversold overnight so that means buy....
(or at least don't short anything)
RTY - Russell 2000 - med term top imminent?I believe the stars are aligning for a decent med term short for stonks
Fundamentals are poor - inflation and rates higher for longer (not factored into earnings yet)
Sentiment is extreme - note recent sentiment surveys all extremely bullish (greed) contrary to market perception
Bears have been capitulating - note short covering rallies (stopped out) in heavily shorted names
Technically RTY looks like a classic triangle consolidation (B/X wave)
Short 1880, stop 1980, looking for 1500 or lower (4 to 1 R/R) coming weeks/months
NOT INVESTMENT ADVICE
RTY UpdateRSI 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.
RTY MFI OversoldThe 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 see a good trade, not expecting the market to do much today.
Short Russel indexA few weeks ago a there was a setup exactly like this on the Russel. Indices were over extended, price took out prior day high. Price might take a few hours to fall,
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.
RTY LongDebt ceiling bill comfortably passed in the house and expected to pass in the senate. ADP #'s are positive. Equities expected to go higher today.
Lower DZ is stronger.
- Trades taken using confirmation entires have a higher probability for sucess.
- Using an initial 1:1 target is recommended for reducing risk.
- Short-term income trade ideas are good for the day unless otherwise stated.
*** For educational purposes only ***
RTY UpdateMFI 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 sideways whipsaw, no daily update unless indicators hit oversold or overbought.
RTY UpdateES and NQ are oversold but small caps arn;t yet, and it looks like we won;t see a bounce until it does.
Not chasing the drop at this point, so just waiting for tomorrow, lol
RTY UpdateHit 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.
RTY UpdateMFI 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.
Russell 2000 delicately poisedRussell has been the weakest part of the market for a while.
Delicately poised, has held above key support 1700 for the last 10 months.
If that goes, you could see -10% (1520) easily and quickly.
Watch 1700.
Are Russell 2000 Futures Breaking a Downtrend?Small caps have lagged bigger indexes like the S&P 500 and Nasdaq-100 so far this year. But now, there could be signs of a turn.
The first pattern on today’s chart of the E-Mini Russell 2000 futures is the falling trendline along the highs of February, March and April. RTY1! has squeezed through that resistance in the last two weeks, which may suggest it’s breaking.
Next are the lows of mid-December, mid-March and early May. The higher lows on either side is potentially consistent with a bottoming pattern.
Third, MACD has turned higher again.
Finally, Bollinger Band Width has squeezed into a narrow range. Such tight price action may suggest the index is due for some movement following a period of consolidation.
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5.15.23 RTYM23 Long 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 could add volatility to the markets. If reports produce worse than expected numbers, market sentiment may shift in the short-term.
- Trades taken using confirmation entires have a higher probability for sucess.
- Using an initial 1:1 target is recommended for reducing risk.
- Short-term income trade ideas are good for the day unless otherwise stated.
*** For educational purposes only ***
RTY UpdateRetail 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 garbage. I need to be careful though, any time I make decent money, I throw it away on a stupid gamble, lol.
Maybe I should just take a break, I'm up close to $10k the last 4 trading days....
RTY UpdateNice whipsaw going, MFI went oversold premarket.
Guess they're gonna pump garbage again, flipping my BUD puts on open.
RTY UpdateWell, small caps look bullish....
Retail numbers are supposed to be good, numbers come out before market open tomorrow. Probably should have gone long on XRT on the dip.
I assume BUD will gap up with retail tomorrow, gonna short it when it does.
RTY UpdateAs 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.
RTY UpdateRSI 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.
Why Russell Index the most Reflective for Bank Run Crisis?Russell represents the true economy of United States.
There are 2,000 medium size companies with each value between $300m to $2b. The index includes a diverse range of companies from various sectors, including financials, healthcare, consumer goods, industrials, and technology. In my opinion Russell represents the true economy of united states.
If the bank run crisis deepens, it is possible that 2,000 companies will not hold up well. The reasons for this are stated in the video. This could affect the other major indices, with the Russell 2000 potentially leading the pack. The Russell 2000 is considered more reflective of the US economy compared to the other major indices with big names like Apple, Amazon, and Microsoft.
E-mini Russell 2000 Index Futures & Option
Outright:
0.10 index points = $5.00
Micro E-mini Russell 2000 Index Futures
Outright:
0.10 index points = $0.50
Micro E-mini S&P 500 Index Futures & Option
Outright:
0.25 index points = $1.25
Micro E-mini Nasdaq Index Futures & Option
Outright:
0.25 index points = $0.50
Micro E-mini Dow Jones Industrial Average Index Futures
Outright:
1.0 index points = $0.50
Disclaimer:
• What presented here is not a recommendation, please consult your licensed broker.
• Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises.
CME Real-time Market Data help identify trading set-ups in real-time and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
RTY UpdateNot oversold yet, not going long today though pretty high possibility of the usual Friday pump and dump tomorrow. Will wait until my indicators say to buy.
I think the selloff ended for the day because a lot of stocks hit support (see GM for example), but I'm not sure if that holds.
Looks like all I'm gonna make is beer money this week, but at least I didn't lose money in the Fed whipsaw. Also, PTON down and W up on earnings, the opposite of usual, lol. Glad I didn;t bet on that too.
