US Small Cap 2000 (RUT)

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What BS

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Christopher Cooper 10 hours ago

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That’s it. Keep buying NVDA until it pops. No way it stays up above 1,100 much longer.

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Jack Chapple 14 hours ago

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Stopped out +10. No more trades today.

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Timothy Technography May 24, 2024 2:54PM ET

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WaveTech indicators on RUT daily chart still look to me like an overall momentum and price decline on Tues. and Wed. (closed Memorial Day), then a strong rally on Thursday (EOM 'window dressing'?), sideways next Friday, down couple days into June 4, and then a rally for about a week. The point isn't the exact dates but rather the pattern, since we forecast improves as Mr. Market approaches the dates. While RUT daily momentum metrics look like they lean bearish next Tues-Wed., the 3-hour looks constructive (bullish). But with dailies showing lower resistance levels (meaning, like we saw today, once price rises, shareholders start selling shares at lower price than days before, in part due to falling moving avgs.), I'm guessing index starts higher on Tues. and then retreats. Weekly chart for next week is 2 PPMs down and 1 PPM up, so learning bearish for the week, despite a bounce around EOM. Overall the April consolidation downtrend reversed quickly in May, but there's more gaps to fill, looks to me, based on projections for momentum and 10-day MA. And whether the low was yesterday, early next week or around June 4, periods of caution, higher prices are ahead in June, if only for a week. We'll have to see how things have changed once June gets going. Don't forget to show respect this holiday weekend for those who sacrificed their lives and their family's well being to defend our nation's sovereignty and liberty. God bless them, the USA and our allies on every continent of this beautiful blue planet dangling out on the Milky Way spiral out in just one galaxy supercluster of one spectacular, immense creation.

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dummey dummey May 24, 2024 11:35AM ET

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selling opportunity again fall down come TRG 2012 selling is best

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Christopher Cooper May 23, 2024 10:51AM ET

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Never fails to amaze me how this index gets f’d with and the others just keep going up.

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Timothy Technography May 23, 2024 9:06AM ET

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RTY (Russell futures index) hit a low on momentum on 3-hour chart at the open last night, a slightly higher low after midnight, and is projected to move higher today and into early evening, even though RTY daily PPMs show PPM-1 and -3 pointing lower today and only PPM-2 rising. Looks like the decline is delayed until sometime between Friday and Monday. Friday's daily PPMs for RTY still point up, so I expect the uptrend to hold for much of Friday.

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Timothy Technography May 22, 2024 3:21PM ET

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Russell projected to move lower tomorrow, but higher overall on Friday (All 3 daily RUT PPMs point projected to point up on Friday, whereas tomorrow shows 2 PPMs point down, 1 up, and 3-hour PPMs point to selling momentum into Friday morning.) As I mentioned yesterday late session, expect a lower low in second half of this week, particularly a weak Thursday, possibly early Friday. While the rally may resume as soon as Friday, be aware there are falling PPMs* on daily chart off and on through June 5th, so worst case we go sideways to down until then, with a rally until around June 12. SPX looks a bit more constructive on May 30 than RUT, which looks like a nicely green day, presumably money mgr. 'window dressing' at EOM b/c 31st also good but starts to fade into early June before the real rally ensues, if only for a week. *(WaveTech proprietary price pressure momentum metrics, tied to probability of that 10, 21, and 40-period moving avg. provides support or resistance)

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Christopher Cooper May 22, 2024 3:21PM ET

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Thanks TT. Any update on Hang Seng. It’s been beaten down over the last week which was expected after the rapid runup.

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Timothy Technography May 22, 2024 3:21PM ET

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Hey CC. I just looked at index HSI and ETF FXI, and pattern has changed. It's confusing with WaveTech b/c the daily is quite bearish, particularly till June 3, then a modest bounce, then lower. But WaveTech projections aren't that reliable more than a few to several periods out on any interval chart. So when I look at daily, to get a sense of next few to several periods (weeks in this case), it shows this week down, the first one to really point down clearly, then modest move up next week, modest move down the following week, which I bet relates to the daily pointing down into June 3, and after that down week, a rally from week of June 11 through 1st week of July, then a significant decline. Remind me to check back in a couple weeks b/c these projections tend to change over time based on new input data. I tend to trust the weekly chart more so think there's more choppy consolidation until we get past June 3rd or so, though not nearly as bad as daily suggests, and then it improves. There's not 150 months of historical data on Heng Seng for a monthly chart projection, but I was curious about gold b/c it's been on a tear, and WaveTech can produce a Monthly for GC, gold futures, and it shows a solid uptrend from March through June (starting earlier, but not so robustly), and then a pivot in July, so probably higher early in July, then down, but I'd need to look at weekly once we get into June to clarify that. Overall the 10-month MA for GC moves higher for the next year and a half, but not nearly as steeply starting next Jan., so there are definite sideways to down months interspersed, as we'd expect. Crude Oil (CL) monthly peaked earlier this year and weekly momentum is bearish, so I own SCO shares for past month or so, bought more this week, and the monthly shows 10-month MA, near $80/barrel today, moving through the $70s into the $60s back towards a healthier price balance between demand and producer profits. Oil's been falling since within a few months of Russia's invasion of Ukraine, just like what happened to oil after OPEC oil embargo in mid 1970s and Persian Gulf War in early 1990s. Price tends to peak 2-3 months after that supply shock, then lower.

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Christopher Cooper May 22, 2024 3:21PM ET

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Dumped my YINN since it looks bleak near term and all in TNA now

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Narendra Kumar May 21, 2024 10:18PM ET

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Indian morket 9.15

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Timothy Technography May 21, 2024 11:48AM ET

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As of 11:40 AM EST, WaveTech indicates a decline coming in early afternoon. The next couple days are more of this sideways consolidation after big gains this month, followed by going higher around Friday, more consolidation and going higher still. WaveTech continues to project RUT's 10-day moving avg. to be in uptrend till mid June,

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Timothy Technography May 21, 2024 11:48AM ET

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Today started a little worse than expected and ended a little better than expected. Intraday and daily charts indicate sideways with slight bias to the downside for some days, with latter part of Thursday and earlier part of Friday indicating more weakness, probably a lower low intraweek. Daily chart overall bullish but looks more like sideways trading range for a few to several sessions. Sorry the details of today proved wrong. It happens and is why it's more important to focus on the multi week patterns than intraweek or intraday, but intraday can be important pivots.

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