rty idea. not a trade I'm placing. just idea.Here is an example of a trade I find appealing to take because price has shown me several times that it is going to stop at the area below. It might not do it again now that it highly evident, but I like this type of thing a lot better than trying to predict the support areas. Price has clearly shown in the past that it will receive some buyer support at the 2226 mark. Why not play nice?
Rty
Non- Farm Payroll Front RunAAII Bullish sentiment Indicator @ All Time Highs.
ROC irrational optimism abounds - while sentiment remains
extremely negative @ 38%.
Housing Prices remain in an extraordinary Bubble with the 10yr
approaching 1% from YCC.
The ES SPY SPX Trend SLOPE is increasing.
USDX appears to be supportive ~ 92. A weak US DX will shove
assets higher within the Negative DX Trend.
A clear structure of the resumption of Down Trend as the Long
DX Trade which Specs chased is failing.
FX Pairs have clear bias to Higher DX, outsized, but not extreme.
Technical Structures across FX remain DX Bearish.
Yields are telling us Equities would move higher and yet the expectations
for the move higher was not met.
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*** Divergences continue to expand to Negative Extremes.
NFP will be front run, Claims have been declining.
August 6th may provide the Catalyst for Bulls, then again Delta is
beginning to show large gains in New Cases among the Vaccinated.
The Market remains extreme, Caution warranted.
We remain Neutral into NFP.
RTY - Russell 2000This is fast becoming the Gift that keeps on Giving.
We closed out Buy To Open Positions an are now employing an
Inverse SELL to Open Ladder from 2273 to 2335.
We are using M2K as a Hedge IF need be - low probability imho.
Our target for the RTY remains Sub 2K, there has been aggressive
Support Mechanism for the RUT, we see it as an enormous Gift :)
RTY - Inverse ConfirmedJobs numbers at 8:30 AM will set the tone for the rest of the week. RTY has shown strength at the bell followed by a dip that coincides with NAS mid-morning recoveries. The 10 Year Note gained to 1.259%, but seems to be reluctant to make a run to the upside. With tech earnings winding down will this RTY pattern be the rotation vehicle for a bit more mega-cap profit taking?
RTY Daily Bullish PushThe RTY daily time frame is in an up trend. The
market is making higher highs and higher lows.
The market hit the up trend line and is pushing
bullish towards the up Fibonacci price point 2588.1
about +3,754 ticks away. I plan on turning to the
one hour time frame and looking for low prices
in the buy zone.
****It is always a good idea to trade with good risk management.****
Remember, success over time, not one time.
PANIC Ahead - August into OctoberThere is far more to "markets" than Charts.
Risks appear as IF unknown when all eyes are focused
upon Charts - this has been demonstrated time and again.
Yet it remains mostly ignored.
There are immense Risks to the Equity Complex.
Today is a Prime Example of Wall Street getting its fills for
the upcoming correction - it will be swift, violent and decidedly
nasty.
Buy the Dip is an almost religious, cult like adherence.
This too shall pass.
We anticipate a move to 200 EMAs happening with extreme
swiftness.
Timing it will be folly, it is best to begin positioning for it
as Geo Political Risk has not been this high in years.
Good Luck and may you prosper immensely in this next decline.
+4,707 Tick Bullish Push RTYThe RTY daily time frame is in an up trend. The
market is making higher highs and higher lows. The
market is at a low price in the buy zone hitting the
uptrend line. The market has an up Fibonacci with
an extension above the live market price point
2588.1 about +4,707 Ticks away. It will be a good
idea to turn to the one hour time frame and to
look for low prices in the buy zone.
VIX Attempting to Fill the Overnight Gap, Markets Slightly DownMarkets slightly down overnight with Vix Up over 4%. We can see on our short term VIX Structure that a gap fill attempt can be on the way. This may turn the Indices back up for the day, ahead of a lot of economic data week as well. Markets will have some moves this week I bet. Trade safe out there!
RTY Daily Bullish Push +1,000 TicksThe RTY daily time frame is in an up channel. The
market is moving from the top of the channel
towards the bottom of the channel. The market
created a down Fibonacci with an extension price
point 2180.3 which matches with the bottom of
the channel. It will be a good idea to wait for the
market to fall towards the bottom of the channel.
Then turn to the one hour and look for low prices
in the buy zone back towards the top of the
channel price point 2363.7
RTY UpdateThis is the only index that surprised me a bit. I expected small caps to rally with the rest of the market. Looks to me like it wants to go oversold again.
I probably would have traded this week had I known, but whatever. I predicted the ES and NQ meltup correctly, just thought small caps would go with...
Elliott Wave View: Russell (RTY) Looking for Further UpsideShort term Elliott Wave suggests the rally from March 25, 2021 low is unfolding as a leading diagonal. Up from March 25 low, wave 1 ended at 2298.3 and pullback in wave 2 ended at 2112.6. Index then resumes higher in wave 3 towards 2350.30 and pullback in wave 4 ended at 2206.20. Wave 5 is currently in progress with internal subdivision as a 5 waves impulse in lesser degree. Up from wave 4, wave (i) ended at 2287.30 and dips in wave (ii) ended at 2258.80.
Index resumed higher in wave (iii) towards 2342.80 and pullback in wave (iv) ended at 2330.30. Final leg higher wave (v) ended at 2346.70 and this completed wave ((i)) in higher degree. Wave ((ii)) pullback ended at 2284.70 with internal as a double three Elliott Wave structure. Down from wave ((i)), wave (w) ended at 2299.40 and rally in wave (x) ended at 2328.80. Index then extended pullback in wave (y) towards 2284.70. This completed wave ((ii)). Expect the Index to extend higher while above 2284.70, and more importantly above 2207.16. As far as June 21 pivot low at 2207.16 stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.
RTY Daily Bullish ChannelThe RTY daily time frame is in an up channel.
The market is at a high price hitting the top
of the channel. According to the research, it will
be a good idea to stay out of the market and to
wait for the market to give a low price near a
known level of U-turn either at the bottom of
the channel or above the the channel. There is
an up Fibonacci extension above the live market
price point 2588.1 about +2,531 ticks away. As
of now, I am out of the market wishing to be
in.
RTY, +1,000 Tick Bullish PushThe RTY Daily time frame is in an up channel. The
market is moving from the top of the channel
towards the bottom of the channel. As long as
the market stays above the bottom of the Channel.
I am expecting the market to U-turn bullish towards
the top of the channel price point 2356.3 about
+1,126 Ticks away.
It will be a good idea to turn to the one hour
time frame and to look for the market to
enter into the buy zone.
RTY pre-market with fibonacci.Fibonacci is primarily used to find support in this context so this graph is designed to give you more of a bullish perspective. Keep in mind the whole world thinks it is time for markets to tumble.
It is summer and we are talking about inflation a lot recently. I don't like it when markets get slashed. The only people who benefit are the ultra-rich. Markets always go back up eventually, and all that movement doesn't get taken advantage of by the average investor.
Most people don't care about that kind of thing because they are otherwise occupied with life events, but as a market watcher person, it's something I wish the average person cared about a little more. Kind of like going green: I don't really know what the effects are going to be if everyone reduces their carbon footprints, but I am pretty sure it would be a good thing. Whenever I think about this I always get led back to thinking education, regardless which discipline, is really the way to go. Hopefully all the money the .01%'ers absorb during the bear months will get back into the education system. That is what I will tell myself when I'm at my computer. That's not what the world will tell me when I go outside.
Why do I get myself all bummed out right before trading? I'm legitimately more tired now.
RTY One hour, +200 Tick bullish pushRTY is about +200 ticks away from the daily limit. As long as the market stays in the buy zone market should push to the projected limit price. Once the daily Fibonacci extension price it hit. It will be a good idea to stop buying the RTY to see if the daily resistance level will push the market back down to the daily support.