Russell2000 /RTY | Potential Long at 1930 SupportThe Russell can find support where it once found resistance ~1930
Watch for a bounce to the upside
RTY1! trade ideas
Russell pullback makes for a meaningful tradeMy earlier post on the Russell futures was myopic in the sense I neglected to zoom out into the appropriate timeframe in order to draw the Fib extension. While the concept remains simple, markets intraday tend to shake out short-term participants and keep the liquidity from the shakeout as that is what the markets usually seek. This retracement had a dip past the Fib halfback in today's session and is looking primed to visit new highs. The stop remains in the 1975 area being a very wide stop for a trade entry off 1986.9 taken off today's pullback targeting 2029 for a swing trade profit target. If the price incidentally moves below 1992, take profits and consider another trade on the pullback.
Trading index futures intraday with actionable analysis-RussellWe clocked an overnight high of 2017.8 with the Russell futures as Asian participation pushed us higher and as is customary in recent months, European premarket into their session sold US futures. A simple RTH based Fib measure is indicative of Fib support sitting between 2002.8~1999.4. Catching this mid-stream in this setup would be best if taken between 2005.2~2007.7 with a stop at or below 1999. Per contract risk therefore with trades taken at the lower band of the suggested entry range is -$310 while holding into the profit target which is above the ONH at 2020.3 would be +$755.
RTY/NQ UpdateRTY and NQ MFI are overbought though RSI is not there yet. ES has not hit overbought.
Not in a hurry to open a position, will wait to see if RSI gets overbought and short something maybe tomorrow or maybe even EOD today.
Definitely not holding a long position overnight with FDAX overbought on both RSI and MFI. Would feel real silly if FDAX tanked tomorrow while trying to chase pennies on a stock.
Russell 2000July 2022, March 2022 pre-SVB, and current high. Rejected at this level on news of higher yields which are approaching all time high.
Technical and digital analysisWe notice that we are in a correction to the upside and there is an increase in the buying momentum and we wait for the weakness of the selling momentum in the correction and we buy
Potential upsides on RTYWe 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!
Any which way you draw it, all roads lead to Tendie Town! Long story short: If it breaks out above 2k and VAH, it won't get resistance until 2200. Then after that we're looking for 2.5k->3k on our way to Tendie Town!
I see limited downside here, maybe 1900/1850; but worst case scenario it catches support at 1500 or 1750 area and we just make even more money as it runs back to Tendie Town! Choo Choo!
Breakout in Russell Above 2000The Russell 2000 is in a breakout above 2000, creating a path of least resistance to 2033-2050. Anecdotally, this has been a hated bull market, and many managers are severely under-positioned and facing career risk. Will they play catch up to the S&Ps +20% and the NQ's +45% ytd by buying large-cap stocks? No! They will likely have to look to small caps for outperformance in 2H. The Russell 2000 is only +13% ytd, with half of that coming in the last month. There is room to run here.
#Russell2000 #RTY To Test A Confluence Of Range ResistanceIN this update we review the recent price action in the emini Russell2000 futures contract and identify the next high probability trading opportunity and price objectives to target
*Past performance not indicative of future results
RTY | IWM | InformativeCME_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 movement. In this case, the target prices could be set at 1932 and 1919.
$RTY_F Small Cap Futures complete initial upside moveThe Russell Small Cap Futures completed their initial upthrust nearly a week earlier than expected. A trend change is underway, as the liquidity data indicated over the prior two weeks.
I have taken some profits on my AMEX:IWM Call Debit Spreads, and will look to reload on a pullback, anchored around the Green Flag Zone below. Eventual target for July is the Red Overhead Supply Zone, although that may take several trips.
The key here is the high-value zone within the currently dominant structure, the green flag zone below, which rises each week.
Members have been able to keep track of the plan over the past two weeks in the reports and live streams. The plan is designed so that there is no need to watch the screen during the day.
I will continue to plan ahead and use limit orders, waiting for price to come to me as I re-load and manage the position.
Above all, keeping track of the liquidity data to make sure that the Cyclical side of the Small Cap Index maintains its Quantitative advantage over the S&P and Nasdaq, which it started to gain on May 24th and the Russell 2000's Quantitative Data Advantage has been intensifying since then.
That has implications for a massive hedge fund Quant Algorithm Pair Trade that has been underway since mid-March, and which is beginning to unwind. We will be keeping track of that as it unfolds.
For now, the Quant data supports the plan we set on May 24th when I went long IWM and RTY.
RTY UpdateRTY seems to be the most interesting index so plotting that. MFI is touching overbought, but usually goes higher than m line, so I'm guessing RSI hits overbought tomorrow then we get a dip.
Really strange day as ES and NQ are red and small caps are pumptarded. PCAR up 3%, but TSLA and GM are red. Just really weird, but it's a rotation from tech to garbage stocks today.
I'm gonna wait until the indicators align before making any big trades, for all I know we could see a counter-rotation, lol. Also FDAX insicators are trending up but neutral.
RTY UpdateI find it interesting that small caps are just doing their own thing today and rallying. It did hit oversold on MFI yesterday unlike ES and NQ.
I closed out all my long position after open because I figured the market was gonna whipsaw, but wish I had held PCAR stock. Looks like it's trading with small caps, despite being in both SPX and NDX indices.
RTY UpdateRSI and MFI oversold. So are FDAX and HSI.
Assuming a Friday bounce on unemployment numbers.
RTY UpdateMFI hot oversold, but NQ MFI hit overbought.
Gonna post NQ as well, no idea what the market is doing.....
RTY UpdateRSI and MFI overbought but PCE numbers come out tomorrow.
I'll take the gamble and hold my long positions until open tomorrow
RTY local H&S ?Russel in the resistance zone. Might finish forming local H&S pattern and will be ready to go for correction.
RTY UpdateRTY MFI hit overbought as well.
RSI hasn't hit overbought yet, and I think the end play is the CPE numbers on Friday for the gap up, pump and dump.
Bullish until Friday open despite MFI indicators.
RTY UpdateHuh, I walked away from my computer and the algos start pumping, lol.
Hopefully they're doing the pump and dump, looks like it'll get overbought tomorrow then drop Thu, not sure how much. I can't imagine the market can melt up from here.
Will just wait for the market to get verbought at this point and short something tomorrow for a one day play.
CPE Friday, I have no idea which way the market goes.
