Posted by sbaxman111 on 29th of Dec 2017 at 03:38 pm
The daily RUT chart I use currently has the Wm%2 indicator
moving from above the upper -20 line to below the -80 line in just
one day. This pattern doesn't happen very often, and usually is
followed by a reversal the following day. I also have other
short-term 60 min signals currently providing a new Long signal to
go with it. My "divergence" chart is also providing a new reversion
long signal for RUT. And, it's certainly possible that new
money will flow into the market on Tuesday for the normal first day
of the year reason - especially within an overall bullish
condition. The caveat here though is that the RSI-2 for the RUT has
only pulled back to the 31% area...not exactly an extreme reading
to trade of off.
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The daily RUT chart I
Posted by sbaxman111 on 29th of Dec 2017 at 03:38 pm
The daily RUT chart I use currently has the Wm%2 indicator moving from above the upper -20 line to below the -80 line in just one day. This pattern doesn't happen very often, and usually is followed by a reversal the following day. I also have other short-term 60 min signals currently providing a new Long signal to go with it. My "divergence" chart is also providing a new reversion long signal for RUT. And, it's certainly possible that new money will flow into the market on Tuesday for the normal first day of the year reason - especially within an overall bullish condition. The caveat here though is that the RSI-2 for the RUT has only pulled back to the 31% area...not exactly an extreme reading to trade of off.