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
RTY1! trade ideas
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.
RTY Test 4+2 Using the moving average
+2 Buying power check
+1 High time frame (1H ~)
+1 Break Channel
Strategy Quality 6 / 10
RTY COVID Gap FilledI've been saying for a while that he original COVID gap on RTY needed to be filled, well it filled, lol.
Slept in because I was all cash, missed on on this hilarious spike. Note the MFI divergence, just another pump and dump.
RTY Long, after election uncertaintyRTY1!
RTY will soon be entering demand, from there longing it after the election fiasco seems to be an ideal bet. September low is still intact, as well as the index overall has printed a higher high since the previous August high.
RTY COVID Gap FillRemember that all futures gaps have to fill, and RTY still hasn't filled the original COVID gap. Needs one more pump either tomorrow or Monday....
rtystochastic would indicate this is not done, but you can already see that no matter how high this goes it will be daily divergent. the break down backtest has never filled against the trend line shown here. that would be the highest probability short, but price has been so weak it can never get there, so i cannot see another level yet. mid term, this break out will fail. the trend line under the price consolidation of march has now been exceeded, so the line is not located there.
RUSSEL (4H) Backtest : 68% win rate across 19 trades => 17.8 RDetailed backtest result : prnt.sc
Non-looser = 84%
Icons on the chart
Thumbs up : Trade was a win
Thumbs down : Trade was a loss
Circle with a cross : Trade was breakeven
Cross : Did not take the trade due to presence of liquidity (equal highs/lows) behind the stop loss
Variables
Avg winner = 1.6R
Strategy : wait for market structure break, then trade the retest of that zone. Zone is drawn using the first candle which crossed the pivot high/low to begin trapping the traders.
