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$IWM Slowly adding to my Nov15 $165c bottom of this channel...may need to churn more
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
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 buy option
buy 01/18/19 170 calls for 3.15
sideways triangle breakout soon
normal chart
log chart
Follow the money? 220 out in Jan2020 Not sure if these are buys or sells..grabbed some @.30 for some fun lottos. Remember Epicenter
Recognition, Millennium, Epicenter. Whatever you want to name this beast
Looking forward to 2018 and the upside potential. Lots of bears but just a 25% move puts us in the 190's here.
Dow: 25,000 @ 29%=32250 @ 29% =41600 by 2019 Why not!
Bitcoin folks should look at this chart and ponder where they are.
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
IWM buy option 135.07
buy 15 SEP 17 148 call for 0.85
normal chart
log chart
Almost...
Seems likely
That may have been the low around 133. That low would be a good long stop...as 130 would be next if taken again. Lots of upside but you can see the channel it may play in for awhile. Adios
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
Interesting monthly close..what do you see?
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