Russell futures went up to fill yesterday's gap (if you look at
regular trading hours) and has pulled back 5 points since. Low
volume, very technical bounce. Still 25 points shy of last week's
highs. Not an impressive turnaround Tuesday so far.
Got 4 days up on a right shoulder on the Russell futures, which
gave a good signal today taking back half of Friday's candle. Stop
above Friday's high.
Pardon all the levels, but they get drawn on all charts for each
instrument in NT. They don't clutter the short-term charts on which
I use them.
Anyway, the last 23 days or so show a complex left shoulder
& head that need time & price to form a RS. The neckline is
not clean, but getting below the accumulation level of 1147-8 would
certainly allow for at least a conservative measured move without
much support in the way.
Better to look for an entry off a RS if that plays out,
though.
Russell futures went up to
Posted by a_l_ on 2nd of Dec 2014 at 12:05 pm
Russell futures went up to fill yesterday's gap (if you look at regular trading hours) and has pulled back 5 points since. Low volume, very technical bounce. Still 25 points shy of last week's highs. Not an impressive turnaround Tuesday so far.
THX as I got on
Posted by rbreese on 2nd of Dec 2014 at 12:40 pm
THX as I got on board puts in IWM. Do you see a small H/S on daily chart on last run up.?
On the daily? It would
Posted by a_l_ on 2nd of Dec 2014 at 12:45 pm
On the daily? It would need a 4-6 day rally to the 1180 area for a right shoulder to set up.
Got 4 days up on
Posted by a_l_ on 8th of Dec 2014 at 02:18 pm
Got 4 days up on a right shoulder on the Russell futures, which gave a good signal today taking back half of Friday's candle. Stop above Friday's high.
If you got short Russell
Posted by a_l_ on 8th of Dec 2014 at 04:42 pm
If you got short Russell on that Right Should signal, your stop can be breakeven or better now on today's big candle.
Love that reversal - heard someone talking about a bullish diamond pattern breakout today - fakeout, so far.
Nice call.
Posted by darnelds on 8th of Dec 2014 at 05:27 pm
Nice call.
Thanks, darnelds...
Posted by a_l_ on 9th of Dec 2014 at 01:19 am
The last 7 days on
Posted by rbreese on 2nd of Dec 2014 at 01:03 pm
The last 7 days on the daily I thought formed a small h/s pattern . Again it is very small but equal IMO. THX
Pardon all the levels, but
Posted by a_l_ on 2nd of Dec 2014 at 01:28 pm
Pardon all the levels, but they get drawn on all charts for each instrument in NT. They don't clutter the short-term charts on which I use them.
Anyway, the last 23 days or so show a complex left shoulder & head that need time & price to form a RS. The neckline is not clean, but getting below the accumulation level of 1147-8 would certainly allow for at least a conservative measured move without much support in the way.
Better to look for an entry off a RS if that plays out, though.
THX for taking the time
Posted by rbreese on 2nd of Dec 2014 at 02:02 pm
THX for taking the time to explain it in detail. Robert
You're welcome. Any time.
Posted by a_l_ on 2nd of Dec 2014 at 02:12 pm
You're welcome. Any time.