Chart1 Russell 2000 weekly and daily log.png
Posting two charts that suggest to me that this would be an excellent time for the Russell 2000 to reverse. Also see the recent excellent chart by Dink (who I think is actually bullish).
Have to see how it looks at the end of the week.
Excellent charts! Well, today really stunk. I actually made very nice profit as I averaged into a large short ES at 2186. Unfortunately, my confidence in the market falling is now much less, even though my trade is working so far. Today's down day had some serious issues for the bears and I'm concerned that what we are seeing is a bull flag and not a top. The bull flag interpretation on the ES implies downside limited to around ES 2163 while upside target of 2220. I will be exiting my shorts, at a profit, in the overnight market, assuming we get a bit of continuation lower after the close. I fear the bears are going to get the noose again, and it really sucks, because I was all ready to hold my short for a long time and join the bears. Unless we can fall very soon below ES 2163, I fear I may have to go full bulltard again, which sucks for my popularity. :(
Dink. Thank you for the feedback........and the warning..... Bless you kind sir.