H&S played out at the bottom & top of today's action in
the Russell. Back-to-back dojis create a very wide range before
there's a breakout - basically 1175-1195 are the edges of T &
W's selling off highs & today's buying off the low. That could
create big fakeouts on the jobs number tomorrow. As Art Cashin
always says, 'be nimble.'
And the Russell has traversed the whole range of 1175-1195,
stopping just above the low and just above the high. No breakout
yet, but another strong buying tail on the day so far, with a
smaller selling tail.
TF held with I-H&S on
Inside day for the Russell & 2nd day of selling ...
Posted by a_l_ on 5th of Nov 2015 at 11:20 am
TF held with I-H&S on 2m
H&S played out at the
Posted by a_l_ on 5th of Nov 2015 at 04:17 pm
H&S played out at the bottom & top of today's action in the Russell. Back-to-back dojis create a very wide range before there's a breakout - basically 1175-1195 are the edges of T & W's selling off highs & today's buying off the low. That could create big fakeouts on the jobs number tomorrow. As Art Cashin always says, 'be nimble.'
And the Russell has traversed
Posted by a_l_ on 6th of Nov 2015 at 02:51 pm
And the Russell has traversed the whole range of 1175-1195, stopping just above the low and just above the high. No breakout yet, but another strong buying tail on the day so far, with a smaller selling tail.
Yes, a pretty good day
Posted by puma on 6th of Nov 2015 at 04:03 pm
Yes, a pretty good day for the RUT. Since it asserted itself, the 9 EMA has become support on the RUT, just like the SPY and the Qs.
A great weekend to all!
hopefully they will give a bounce into 1195 tomorrow for a short entry
Posted by junkie on 5th of Nov 2015 at 07:09 pm
$rut went below yesterday's low and reversed:
http://stockcharts.com/h-sc/ui?s=$RUT&p=D&b=5&g=0&id=p50512169714&a=355229187
I reckon that 1194-1996 area would be a good area to place a short with a very tight stop above Tuesday's high at 1196.56 .
Ha, I just looked and
Posted by a_l_ on 5th of Nov 2015 at 04:20 pm
Ha, I just looked and Art's close this morning was, "Stay wary, alert and very, very nimble."
Ha -- I'm with you
Posted by puma on 5th of Nov 2015 at 04:22 pm
Ha -- I'm with you and Art -- staying very, very nimble. Got to go to they gym now and do my stretching. Don't want to pull any muscles while trading
Not a bad approach.
Posted by a_l_ on 5th of Nov 2015 at 04:25 pm
Not a bad approach.