RTY stats The Russell is up 10% YTD and up 21% since the recent low made in October of last year. For the daily chart, technicals overall are bullish and are calling for buys only. The chart appears overbought, however, and the long trade might be a bit exhausted at this point, so let’s take Read More…
RTY shoot through low volume nodes Bulls have completely taken control of RTY as it has rocketed 7% in four days. One of these reasons is that as RTY broke above $1,820, it entered into low-volume nodes all the way up to $1,873. Low-volume nodes have little liquidity, meaning price tends to break through them Read More…
Russell 2000 RTY On April 28th, there was a long trade opportunity with an entry price of $1,747.6, a profit target of $1,826.3, and a stop loss of $1,693.7. The market has rallied since then, just missing our target by a few ticks, and has now dropped back to the original entry price. Before we look Read More…
Recap The last time we looked at RTY was back on March 28th. There was a support band that formed at the $1,738 level, which is close to the 78% Fib level too. Price did rally out of the support zone by 200 points and has now retraced back into it. Let’s take a look at Read More…
Recap The last time we looked at RTY, price was finding support around the $1,738 level. I mentioned that the bears would find it difficult to break below that level due to the strong bullish wicks that formed. From here, we have even more conviction that the correct direction is up from here because of Read More…
Technical analysis Price action: There is a strong band of support that has formed at the $1,738 level, which was our previous bearish target. It is all the 0.78 Fibonacci level. The candlesticks show strong bullish sentiment as every time price dips below $1,738, it gets bid back up. This can be seen by the multiple wicks Read More…
