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US Small Cap 2000 (RUT)

NYSE
Symbol
Exchange
Currency
US2000DerivedUSD
RUTNYSEUSD
Currency in USD
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2,066.85
-2.82(-0.14%)
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US Small Cap 2000 Discussions

What BS
That’s it. Keep buying NVDA until it pops. No way it stays up above 1,100 much longer.
Stopped out +10. No more trades today.
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.
selling opportunity again fall down come TRG 2012 selling is best
Never fails to amaze me how this index gets f’d with and the others just keep going up.
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.
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)
Thanks TT. Any update on Hang Seng. It’s been beaten down over the last week which was expected after the rapid runup.
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.
Dumped my YINN since it looks bleak near term and all in TNA now
Indian morket 9.15
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,
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.
JPM sees the yield going higher through the summer months.
WaveTech sees Treasury yields falling overall which aligns with what Fed has said and economic indicators suggest based on trends. There's a reason we don't keep our money with JPM.
don't buy the yield is too high & unemployment is going up
If you haven’t noticed, the strong labor market is the biggest contrubutor to inflation, so higher unemployment could help contribute to rate cuts and lower yields.
Exactly CC. The whole point of raising interest rates is to reduce inflation, and that requires going from the lowest unemployment rate since 1960s to a more natural rate around 4%. Meanwhile inflation is falling, but it's not going to hit 2%, which was only a valid inflation target during the disinflationary between GFC and COVID-19. The new normal inflation and interest rates will be more like where they were the three decades before that, due to deglobalization of supply chains, national self reliance of industry for national security, global transport costs rising due to the two busiest canals, Suez and Panama, no longer available due to Houthi Rebels and multiple years drought over Panama's lakes from El Nino or climate change patterns, and Baby Boomers retiring, so smaller workforce and tighter labor market, which is actually good for labor. The reason the lower and middle class have suffered while those of us earning well into the 6- and 7-figures have not is b/c the business and government prioritized the interests of business owners over the workers since 1980s, but that is changing in the new normal. Small caps are able to adapt, but they must be able to operate with less debt and better cash flows. So this long term secular trend will shake out the meme stocks and other poorly operated businesses.
As I noted here on May 10, the trend is higher, as WaveTech anticipates market reactions and gets it right most of the time (about 75-80% on big days like CPI/PCE/GDP/jobs/FOMC). Daily RUT chart indicated uptrend through Wed. and some consolidation starting today sideways up and down but biased to downside. This continues overall into Monday at least, quite possibly second half of next week based on 3- and 4-hour interval charts (which aren't as reliable at looking more than 2-3 sessions out but are helpful at identifying cyclical waves over couple/few days). There also appears to be a bounce tomorrow morning if the 3-hour chart is correct, but it indicates a fade over Fri. afternoon and lower Monday. The more powerful daily RUT PPMs are projected to keep price and the 10-day moving average (10-DMA) moving higher through end of May, then some consolidation in days near Memorial Weekend, and then higher through mid June. Projections that far out on daily aren't as reliable, but monthly chart shows rally over May and June, just as it forecasted a bearish April that was a corrective phase from bullish Q4-Q1. So buy the dip around this weekend.
going way higher sooner then later
Still believe that russel has the most updide potential
It certainly corrected the most in April.
Buy the dips and fo not look back
not a good idea until Friday or.next week Monday
Still believe the russel has the most upside ptential..buy the fips
buy
Russell futures point to a gap lower opening on Monday morning, per WaveTech 4-hour chart, but Wavetech's daily RUT (cash market) indicates some recovery, with daily RUT PPM-1 (10-DMA momentum) pointing slightly lower on Monday before shooting up on Tuesday, PPM-2 (21-DMA momentum metric) pointing up Monday and especially strong next Tuesday, and PPM-3 (40-DMA momentum metric) pointing gently up next two sessions. So overall, whatever weakness we see on Monday should reverse into strength overall through at least Wednesday.
CPI report on Wednesday will dictate what happens to RUT beyond that in the short term.
It's too early in session (9:45 AM) to have high confidence in WaveTech charts, as they need more data input after 9:30 to identify inflection points, but RUT daily price pressure momentum (PPM, WaveTech's proprietary momentum metrics) between 10:30 and 11:30, with 15-min. indicating the latter side of that window. Then momentum moves higher, which matches the daily PPMs, where PPM-3 points down (I interpret that being this morning) and PPM-1 and -2 point up today (so overall more bullish day). But between daily and intraday PPM projections, looks like this momentum fades sometime tomorrow afternoon, and Monday is weak, maybe lower price than yesterday/today, but I think a higher low, especially since after that the daily PPMs seem very bullish the next couple sessions. From there maybe consolidation sideways. I've learned to not trust so much exact timing but pay attention to longer period patterns, and the daily still points higher into middle of next week, maybe much longer.
oops, correction to bad wording: 'but RUT daily price pressure momentum (PPM, WaveTech's proprietary momentum metrics) between 10:30 and 11:30, with 15-min. indicating the latter side of that window.' should read, 'but RUT intraday price pressure momentum (PPM, WaveTech's proprietary momentum metrics) indicates a move down until somewhere between 10:30 and 11:30, with 15-min. indicating the latter side of that window. ' At 10:02, it's looking closer to 11 - 11:20 AM; this projection will adjust over time based on trading, so just an estimate.
Appears to me at 1 pm that there's a move up coming in about 10-20 minutes that will last till 2 or 3pm (I'm guessing the latter) before another leg down into close. Hard to tell if price will get back down to the low of the day at open, but looks pretty close either way. If the market stayed open later, like after-market, then probably a lower low, but if we only see 30-90 minutes down after a bump up, can't tell either way but not a huge difference. That might be what causes tomorrow's daily chart to look more bullish or perhaps I should say less bearish, meaning a day where momentum swings from bearish to bullish, whether right from open or after some choppy moves both ways, unclear.
I’ll buy more TNA tomorrow near the open
YINN started out hot and has pulled back which is healthy.
Right now just past 10 AM, it looks like RUT closes near the low of the day. Tomorrow is less clear, so I'll check back this afternoon between meetings, hopefully around 3:15 or before 2:30 meeting. Since WaveTech has a harder time forecasting shorter timeframe directional changes than those of multiple days and weeks, I'm focused more that WaveTech daily chart is more bullish overall looking out between tomorrow and a week from today, May 15. Then, maybe more sideways consolidation. One thing interesting is Wall St. legend (since 1960s, not one of these millennial newbies) says some bubble will burst around May 15. It's one of those free webinars where his firm tries to sell some paid research subscription, and I haven't looked into it yet, but when I noticed that May 15 is important both to Chaikin--who's got better methodology than most financial research--and WaveTech, I'm interested in what happens then but haven't had time to learn yet.
I should point out at 10:15 WaveTech 30-minute chart indicates weakness till around 12:30 pm, then a modest recovery, and the 15-minute chart indicates low in first 15 minutes of today or maybe between 10:45 and 11:30 as the momentum metrics slop around in chappy pattern.
WaveTech 3-hour chart show bullish momentum fading after today, while 2-hour chart indicates tomorrow might be able to go higher, even though there's more cross current momentum then. Daily PPMs indicate cross current today, like maybe a move up then a reversal, and shows all three daily PPMs pointing down tomorrow (bearish tomorrow), but after that, it shows more uptrend. How to read this? Be cautious; assume some downside is coming by tomorrow probably, but I'd still trust the daily over the intraday that the direction continues higher after some brief consolidation.
ຂາດເດີ້
fade and fill lol
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