IWMSmall caps looking pretty bottomed here IMO.
Let's see with NQ bouncing off 200 weekly EMA & SP500 looking ready to push of the 3850 lvl wall street may want some extra risky trading till EOY.
Iwmshort
IWM bearish
bearish at least until indiscriminate selling is over
most likely going to see a bounce before taking out a major fib level
IWM: Weakness PrevailingIWM Looking like will lead us to the downside this week. The weakness comes at the top of the macro bear flag we cover in depth here. We post videos every Sunday to get your week ready!
IWM sella very strong green candel breaking the level of resistance with loot of force indicates the end of the uptrend and a fall under the level
$IWM — Potential H&S forming on the 1hr We can either go lower to fill that open gap right off the bat...
or
We're going to go a bit higher to form the second shoulder, creating the H&S with a downside target of $193...
Either way, that gap is filling — not sure if it will today, but likely for next week and for certain before March's 3rd Friday.
The StochasticSlow is looking overbought, and the CCI is hinging lower just under that momentum line — bad sign for the bulls, if you ask me.
2/21/22 MSFTMicrosoft Corp. ( NASDAQ:MSFT )
Sector: Technology Services (Packaged Software)
Market Capitalization: $2.159T
Current Price: $287.93
Breakdown price: $286.00
Sell Zone (Top/Bottom Range): $297.00-$312.00
Price Target: $276.00-$274.40 (1st), $233.00-$230.50 (2nd)
Estimated Duration to Target: 28-30d (1st), 68-71d (2nd)
Contract of Interest: $MSFT 3/18/22 280p, 6/17/22 260p
Trade price as of publish date: $7.20/contract, $9.97/contract
2/21/22 TSLATesla, Inc. ( NASDAQ:TSLA )
Sector: Consumer Durables (Motor Vehicles)
Market Capitalization: $885.695B
Current Price: $856.98
Breakdown price: $850.00
Sell Zone (Top/Bottom Range): $900.00-$965.00
Price Target: $778.00-$762.50 (4th), $690.00-$678.00 (5th)
Estimated Duration to Target: 28-30d (4th), 68-71d (5th)
Contract of Interest: $TSLA 3/18/22 800p, 5/20/22 750p
Trade price as of publish date: $34.11/contract, $55.40/contract
2/21/22 BLDRBuilders FirstSource, Inc. ( NYSE:BLDR )
Sector: Producer Manufacturing (Building Products)
Market Capitalization: $13.734B
Current Price: $71.72
Breakdown price: $67.00
Sell Zone (Top/Bottom Range): $68.50-$73.00
Price Target: $64.20-63.00 (2nd), $56.00-$54.40 (3rd)
Estimated Duration to Target: 27-29d (2nd), 60-63d (3rd)
Contract of Interest: $BLDR 3/18/22 70p, 5/20/22 70p
Trade price as of publish date: $3.40/contract, $6.30/contract
2/21/22 SPYSPDR S&P 500 ETF Trust ( AMEX:SPY )
Sector: Miscellaneous (Investment Trusts/Mutual Funds)
Market Capitalization: $ -- B
Current Price: $434.23
Breakdown price: $429.00
Sell Zone (Top/Bottom Range): $448.00-$457.00
Price Target: $422.20-$420.10 (1st), $384.20-$382.00 (2nd)
Estimated Duration to Target: 14-17d, 48-50d
Contract of Interest: $SPY 3/7/22 420p, 4/14/22 400p
Trade price as of publish date: $4.20/contract, $7.03/contract
IWM SHORTShort AMEX:IWM
Very likely we see a crash this week to the 200 level.
I am playing off of the current market conditions and rising ECONOMICS:US10Y yield, etc..
IWM: See You at Tha Crossroads IWM is at a crossroads. If buyers step in this week they must fill the gap at 228.53 (in blue). 226.67 will be hard, but if they successfully get through and a daily close above 228.53 a run to 240 is not out of the cards THIS WEEK.
IWM - NO MANS LANDHuge range over the last 6 months. Is it a sign of reckoning or will we have one big finale to this bull market with IWM leading?
IWM short to under $200You're probably wondering why I have been posting a lot of bearish content lately...its for a reason trust me
Inflation is going to destroy the market, its going to happen before you know it
The bubble is bursting, tech is diving, medals and asset based companies are skyrocketing!
Don't get caught holding an expensive bag, if your still going long in this market...the least you could is hedge yourself with puts...even then, that might not save your longs:/
IWM is about to break this bear flag and trendline support to the downside
I would look for a short term bounce at daily demand but I don't expect it too hold long term, 185-190 is my main target range by late July ...at this rate, it may happen sooner than you think.
Positions:
6/18 215p (will add July 200p once confirmed break of trendline support)
IWM sell IWM is forming big head and shoulders pattern which is not completely finished. I am expecting a 10% drop in the IWM. Follow me for more ideas.
IWM - The party is over (for now)Today the IWM opened at 384.66. Through the day it traded as high as 386.13 and as low as 380.20
Bollinger Bands
Looking at the Bollinger Bands for IWM, you can see that IWM is trading in the lower, which is considered to be a bearish sign.
MACD
Looking the MACD indicator below, you can see that the red is over the blue. This is can is indicative of an overall bearish towards IWM by the market.
Tagging trendline connecting high pivot of 2015 & 2018The Russell 2000 ETF (IWM) is surging over 4% as Democrats likely take control of the Senate. This gives Biden control to push through more stimulus. Interest rates surged through 1% on the 10 year yield. Not only is the Russell 2000 full of small caps, but also banks. Banks rally as yields rise.
IWM is also tagging a trendline that connects the high-pivot of 2015 & 2018. Could this be a pullback level? Going in on a half-position, possibly adding if things turn favorably (sub-$200). Shorting shares is the safest route, but February/March $190 puts have a nice risk/reward at this level. Not financial advice.
Happy trading.
IWM is all set for a pullback-IWM has a clear rising wedge pattern and a retest to the wedge suggesting a reversal pattern.
-Also, today an institutional trader keeps buying IWM Puts expiring on Jan29th 2021 for the strike price of $170 and $160.
-According to data from the trade alert system here are some of the put transactions.
>>10000 IWM Jan21 29th 170 Puts $1.40 (FT Theo=1.38) Above Ask! CBOE 11:42:43.433 IV=38.7% +1.1 ISE 664 x $1.36 - $1.39 x 410 C2 COB/AUCTION - OPENING Vega=$104k IWM=196.16 Ref Detail
>>5000 IWM Jan21 29th 170 Puts $1.40 (FT Theo=1.39) ASK ISE 12:00:16.164 IV=39.0% +1.3 ISE 364 x $1.37 - $1.40 x 268 C2 COB/AUCTION - OPENING Vega=$52k IWM=196.46 Ref Detail
>>5000 IWM Jan21 29th 170 Puts $1.43 (FT Theo=1.42) MID ISE 11:52:25.105 IV=39.0% +1.4 C2 921 x $1.41 - $1.44 x 379 C2 COB/AUCTION - OPENING Vega=$52k IWM=196.15 Ref Detail
>>5000 IWM Jan21 29th 170 Puts $1.45 (FT Theo=1.44) ASK ISE 11:47:03.735 IV=39.0% +1.3 C2 1023 x $1.43 - $1.45 x 123 BZX COB/AUCTION - OPENING Vega=$52k IWM=195.91 Ref Detail
>>10000 IWM Jan21 29th 160 Puts $0.74 (FT Theo=0.74) ASK CBOE 11:42:43.433 IV=43.2% +1.2 C2 1094 x $0.72 - $0.74 x 849 ISE COB/AUCTION - OPENING Vega=$99k IWM=196.16 Ref Detail
>>5000 IWM Jan21 29th 160 Puts $0.76 (FT Theo=0.76) ASK ISE 12:00:16.164 IV=43.7% +1.6 ISE 556 x $0.73 - $0.76 x 1096 C2 COB/AUCTION - OPENING Vega=$50k IWM=196.46 Ref Detail
>>5000 IWM Jan21 29th 160 Puts $0.77 (FT Theo=0.77) ASK ISE 11:52:25.105 IV=43.5% +1.4 C2 1152 x $0.75 - $0.77 x 324 C2 COB/AUCTION - OPENING Vega=$50k IWM=196.15 Ref Detail
>>5000 IWM Jan21 29th 160 Puts $0.78 (FT Theo=0.78) ASK ISE 11:47:03.735 IV=43.4% +1.3 C2 1374 x $0.76 - $0.78 x 1455 C2 COB/AUCTION - OPENING Vega=$50k IWM=195.91 Ref Detail
Triangle Pattern?I was trying to figure out this sideways move we have made over the last month. I think this could be a Triangle correction pattern. This would fit with the larger wave count and would complete Wave 2 up. That would mean Wave 3 down could be starting next week. I am waiting until we break below the purple line as confirmation before adding to my short (RWM) position.
$SPY What if (Bear and Bull Case) another COVID Optimism Bounce?Please do your DD.
From my last SPY idea, we are in the bear/bull trap zone and where we go next is anyone's guess (Most likely down). We could be consolidating here to move higher one more time or gaining momentum for a downward spiral. We may have Gilead's and Roche's official news soon so we have to be prepared for a short squeeze.
Also I am looking at the IWM and it hasn't reached its .50 retracement so that is unclear what that is going to to do so please be careful either way.
