2.15. 24 The term I like to use is Market dynamics. They changed yesterday with a very significant move lower but when it got to the bottom you should want to be a buyer as long as you can find a buying tail.... and the market was giving you evidence that you should have been a buyer at that level if you recognized the signal. A lot of times in profitable...
2.14. 24 I ran out of time so this will be part one. And it occurred to me these sessions are not 12 minutes they're 29 minutes....And I ran out of time. I'm interested in market dynamics... especially in markets that have a volatile trading day when both buyers and sellers can be profitable because of the range of price for that market on that day........
Well, bonds were down earlier today and actually went up with the auction. $25B worth of 30yr and they bought into it, wow. So that means yields go back down, bond traders are buying into the projected rate cuts. (Keep in mind it's 30 yr though)
One of my followers mentioned small caps earlier this week, forming a pennant on the daily, and I think it breaks...
Chart pattern looks like a breakout but indicators went overbought on my 3 hr.
I closed out my small position in garbage stocks. (I was right when I posted that yeserday, lol) Return was good in terms of percentage, but I didn't have much. Who wants to risk a lot in garbage stocks?
Not really sure what happens next week, might just sit and watch until CPI...
2.13.24 This video is about what it really is like making a trade decision when it's hard to make the decision. My point is that you have to practice deciding when to take a trade and when there's enough evidence to take the trade with a higher probability that the market will take you in the direction you are trading. You should train yourself to do this.... if...
Like the way price retested the downward trendline. Move up into the red resistance box is likely on of break of 2025. If price breaks above the red box look small caps to play serious catch up.
Let's take a look at the Russel 2000. This index seems to be the only one between the Dow, Nasdaq, and S&P that is failing to break to new ATH while they are.
What we're seeing is a triple top/triple resistance in Aug 2022, than again February 2023, and again August 2023 which was confirmed with a break down to the lows of October 2023 before more manipulation...
Seen this before. SPX climbs relentlessly, driven by the Magnificent Seven. Russell small caps, America's real stock market, do not participate above a resistance price, ~2K index price. Twice rejected there, first rally went to ~2400, this time it's a lot less.
IMO this monster rally back to SPX ATH is just another bear market zig-zag, and the worst may be yet...
Short term Elliott Wave View in Russell 2000 (RTY) suggests the decline from 12.28.2023 high is unfolding as a double three Elliott Wave structure. Down from 12.28.2023 high, wave W ended at 1938.6 and wave X ended at 2004.87. Wave Y lower is in progress as another double three in lesser degree. Down from wave X, wave a ended at 1966.4 and wave b ended at 2003.10....
Let's go over the plan for a possible trend reversal on the Micro Russell using our TrendCloud Trading strategy.
Right now we are in a strong downtrend on the one hour chart with downward momentum.
The 15 min trend has been terminated and the TrendCloud is telling us that we already have trend reversal because of the moving average crossover.
However we have...
I Recorded this video originally for myself for a recap for my Journal but thought it had some good information on support and resistance and using different lenses to view the market. I go over my two losses I took on both the S&P 500 and Russell 2000 but I think they did help prove to me that your entry is extremely important and working on getting better entry...
This is the first trade that I am taking for the TrendCloud Trading Challenge.
Going for 2:1 Target
4 hour and 1 hour chart are both in a downtrend as well as the 15 min chart
1 hour CCI is below -100
Took the TrendCloud Signal on the 15 min candle.
1 hour trend is just starting to become extended so keeping a tight stop on this.
Downtrend on the Daily, 1 hour and 15 minute charts.
TrendCloud Scanner pulls up the Micro Russell
TrendCloud Signal on the 15 min chart
Take the trade short 2:1 target hit
Scale out of the trade and let this winner run.
We are shooting for 8% in the next 2 weeks of trading for this Prop Trading Firm Challenge.
Sign up with TrendCloud and practice with us...
The Russell 2000 small-cap index having failed to maintain support at 1968, a short futures position might be worth adding to. We wouldn't start one here, though.
In this video, I provide my market analysis for the upcoming week (1/16-1/19) focusing on S&P 500, Nasdaq 100, and Russell 2000 Futures. Understanding the market environment is crucial for both day traders and swing traders. I discuss how to ascertain if this week will be a consolidation week or if there's potential for range expansion. If it's a consolidation...
Recently, the Russell 2000 achieved a breakout from a sideways trading range that has been in place since March 2022.
Considering the macroeconomic environment and chart analysis, we believe that, despite today's retracement, there is no doubt that the index is on a direct path towards a new all-time high.
The two marked trade ideas provide opportunities for...
