Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Trade: Incredible Move On The Russell 2000 $IWM May Have Peaked
The Russell 2000 (IWM) has surged an incredible 25% since the December 26th, 2018 low. This is one of the most insane moves in any index in such a short period of time. While all indicators are flashing overbought, the real story can be seen in the daily chart. The Russell 2000 ETF $IWM is kissing the 200 moving average as well as pivot resistance points from November and October 2018. If there is any pull back, it will come within days on here. A retrace to $150 is the likely first target.
Gareth Soloway
InTheMoneyStocks
Options Expiration Week Is A Time For Institutional Game Playing
This coming Friday is options expiration for the month of January. Usually, the trading week leading into options expiration is filled with a lot of game playing by the institutional crowd. This is generally a time when there will be a lot of rumors, ridiculous upgrades / downgrades and often some other far fetched news event. The bottom line, expect the unexpected during options expiration week.
Since December 26, 2018, the major stock indexes have surged sharply higher. Now with so many stocks trading off of their lows we could see a pullback this week. But then again, I have to think that after the Christmas Eve sell-off there are probably a lot of retail investors still holding put options into this expiration on a lot of the leading indexes and popular stocks. If this is the case, then the major stock indexes will probably hold up this week.
This week is also the start of earnings season. As you know by now, the street is looking for the earnings picture to be weak. At least that is what the market usually looks for when we have such a sharp correction like we have seen. In other words, market expectations have been lowered. So any surprise in earnings could certainly help the markets this week. Either way, traders will have to look at every stock on an individual basis. Many market leading stocks are trading into resistance, while many others are still lagging and should have a way to go before reaching a major resistance point. Just remember, this is a week to be on your toes as options expiration is usually filled with game playing and lots of whipsaw.
Nick Santiago
InTheMoneyStocks
The Significance Of A Russell 2000 $IWM Topping Tail
On Monday, August 27th, 2018, the Russell 2000 (IWM) surged sharply higher with the S&P and NASDAQ. However, there was one difference to a normal trading day. While the rest of the markets stayed at their highs, the Russell 2000 faded, forming a topping tail (bearish top signal). The reason this may be significant is because the Russell 2000 has lead the market both to the upside and downside over the last year. Because of that, investors should pay closer attention to the topping tail on the Russell 2000. It may signal a significant top or nearing top on the S&P and NASDAQ.
Gareth Soloway
InTheMoneyStocks
The Russell Nears Its Max Up-Trend Line $IWM
The Russell 2000 ETF (IWM) is surging today, but nearing a major max extension trend line. Since late 2016, this trend line has dictated the max highs on the index. Today, the Russell is nearing this level and likely will see a pull back off this max level.
Gareth Soloway
InTheMoneyStocks
I've been playing that same channel for awhile now. Today was solid puts. I entered too early, however, they paid out. Sold most of my puts today. Still holding IWM Jun 15 2018 164 Put for a better payday.
The Simple Reason I Shorted The Russell 2000 Today
The small cap Russell 2000 has been making new all-time highs for the last few trading days. So what made me pull the trigger on a short today? The answer is simple, yet most traders and investors are oblivious. If you connect the high pivot from December 2016 to January 2018, the trend line extends out to the current all-time high made this morning on the $IWM (Russell 2000 ETF). Each of these high pivots has seen a pullback, each one greater than the last. Using this technical trend line and rationale, IWM is due to pull back here and even larger than the pull back in late January 2018. The downside target could be $150 or even $135 in the coming months. With the cycle date looming for later in June and lasting until mid-August, look for the top to be here with chop, then major downside between that time frame.
IWM strong 158 calls added
Russell 2000 $IWM Chart Analysis: Target Price Revealed
The Russell 2000 has been in its happy place as tax cuts appear to be closer. From January 2017 to August 2017, the Russell 2000 had been in a slow grind-up range. It finally broke out in late August when tax cuts began to look more likely. The move took the IWM (Russell ETF) from $135 to over $150 in just over a month. This broke the upper range of the channel. As the Russell (IWM) now stalls, it will likely see a pull back in the coming days/weeks to the upper range of that channel, which is now support. That is around the $146.70 price point. This will be the first major support and big test of any pull back in the Russell 2000 (IWM). It is important to note that the Russell has been a leader for the stock market and continues to be. If the Russell starts to fall, the S&P will likely follow within a day or two.
Gareth Soloway
InTheMoneyStocks
The stock markets had been headed downhill since December of 1968. On May 26, 1969 a party was held at the Nixon White House. In attendance were John Mitchell, Maurice Stans, Peter Flannigan, thirty five guests from Wall Street, fourteen industrialists, seven bankers, five heads of mutual and pension funds, and two heads of insurance companies. The next day a bull rally began on Wall Street. May 27th saw the Dow Jones 30 average rise by 5 per cent in one day (2Ney, 71).
http://w3.tribcsp.com/~fredj/ney.html
Why not! Another inventory grab will come but not yet
This market action will set up a november like move up. Still watching the old 136.5 (current) and possibly 133.5 for support. V bottom? Double? Divergence on rsi ...but those work and sometimes they don't
Closed just outside channel on 60min. Chart would look better with a 8-10 dollar pull back toward 130-128. That would set up a nice run toward middle 140's if it happened. Can still push higher but might be limited by top trendline. I'm long from 135 area...locked some friday.
Cool spx chart: buy 200ema and walk away
Looking like a step down pattern. 137 line held today...that fails 135 in the cards.
green today or green tomorrow IMO
Ran into that pesky red line today...Plenty of support lines below...I'd be happy to add at 137. Need to keep looking up, IMO
I had LOTS of puts, took the loss Monday AM bought calls and have been sitting pretty..can't beat em join em...bull run of a lifetime ON THE WAY IMO
I'll put the Flobewan Kenobi on it for ya, LOL
That means absolutely nothing anymore. I wouldn't be surprised if it tags 140 this week. I'll hold my puts regardless out of spite. Lol.
It's been up at least 3 days in a row, nothing goes straight up all the time.
Well, that's an easy think to say. Lol. What's your reasoning? Fins are strong. I will admit, IWM lags behind SPY the last 2 days.
I bet it pulls back soon
IWM sure looked like it wanted red in the morning. I was hoping so being that I'm sitting on puts. I was just playing for a pullback prior to the next run up. This market is moving on hot air from Trump. The anticipation of change. Most of that he is proposing would take so long to make a difference even if he can make these changes. Crazy times ahead.
I feel you, but one of these days in near future there will be no stopping the bull run of a lifetime IMO
Red activity , green as opposed to Friday close, but, the candle today seems to be one that could signal a reversal. That said, we've seen markets defy plenty of those lately. I would adamantly say " time to pivot" , were it not for having markets shred that opine into ribbons lately. But, what's one more ? So, I say reversal afoot.
140 is not out of the question at all. 136-140 channel. It may not happen next week, but it's coming, IMO. I grabbed more puts today just for insurance on a small pullback.
just flipped for 20% wtf r u talkin about?
Reckless...I've been there.. you'll see 140 before 136
smart move.. got $100,000 on IWM puts Feb 17 136.50
One more push to easily tag 138 plus then retest 136 next week IMO. I started scaling into puts ... Just because.
My timing sucks but still think we get new highs here.
It feels set up to do so. I'll dump my calls & grab some puts.
Getting tested today but I think the bulls win. Using the legit channel for stop...60 min close inside it. Good risk/reward even there
Followers
|
38
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
295
|
Created
|
08/19/07
|
Type
|
Free
|
Moderators |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |