Daily Watchlist · On Our Radar · Trading Game Plan

Russell 2000 – Trading Game Plan (Update) (2016/11/01)

Today the Russell 2000 (IWM) finally outperformed broader markets, which were largely flat but IWM was able to squeeze out a +0.4%. In the intraday futures chart, was able to break a steep downtrend in afterhour trading, and should now charge towards the 1205-1210 area documented before. On the daily as well, we have a confirmed doji reversal off the breakout area just under 1180 which will provide strong support, and any dips (if there will be any) should be bought towards there. Positive seasonality will give us tailwind to the upside.



Also highlighted in our charts is possible bearish scenario after retesting the aforementioned resistance area. We will reassess if and when price gets to the 1205-1210 level but the plan is to flip to short there. But will take it one day at a time.

Buy Points:

  • 1192 – Pre-FBI candle high
  • 1180 – Retest of broken downtrend and breakout area

Sell Points:

  • 1206 – Bottom of broken channel
  • 1210 – Descending trendline off YTD high

Original Game Plan: https://wingcapital.wordpress.com/2016/10/31/russell-2000-trading-game-plan-20161031/



One thought on “Russell 2000 – Trading Game Plan (Update) (2016/11/01)

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s