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Russell 2000 Daily Chart with Current Implied Volatility Band Levels for Nov. 24, 2014

Friday’s massive opening gap up was likely exacerbated by an Options Expiration unwind, but the obvious intraday descending trendline did not reward those buying the open very well. In fact, it reaffirms our primary ethos of “Selling Strength – Buying Weakness” at our high probability support and resistance levels. What’s more, Friday’s high price was […]

Russell 2000 Daily Chart with Current Implied Volatility Band Levels for Nov. 21, 2014

Buyers step up to rescue RUT after a successful test of the ascending 21 day exponential moving average and the 1.0 Weekly Implied Volatility Band support level. The velocity of the buying was likely exacerbated by options expiration activity as those with bearish options position are unwound ahead of Friday’s expiration. Nevertheless, a defined Bullish […]

Russell 2000 Daily Chart with Current Implied Volatility Band Levels for Nov. 20, 2014

Tuesday’s inability to sustain an early rally and recapture overhead resistance (8 Day Moving Average) lead to continued weakness during Wednesday’s trading as our initial price targets were attained. In prior commentaries, we suggested that lower confluent moving averages and Implied Volatility Band support were attractive price zone for speculative profit opportunities. That idea appears […]

Russell 2000 Daily Chart with Current Implied Volatility Band Levels for Nov. 19, 2014

After the relatively strong selling for the past three sessions, a RUT reflexive bounce avoided oversold conditions (with RSI2

Russell 2000 Daily Chart with Current Implied Volatility Band Levels for Nov. 18, 2014

RUT follows thru lower as telegraphed by Friday’s ominous “Bearish Engulfing” pattern and Monday’s violation of a “Bear Reversal Threshold”. This follow thru validates a short term trend reversal pattern and very likely lower prices projected. Perhaps not in the cards for Tuesday’s trading, but confluent Moving Averages (especially the all important 200 Day Moving […]

Russell 2000 Daily Chart with Current Implied Volatility Band Levels for Nov. 17, 2014

We had anticipated further RUT weakness following last Thursday’s selling and well defined “Bearish Engulfing” pattern. Indeed prices were lower albeit within a very narrow range. This reflects market participants’ indecision. Sellers are reluctant to take action due to numerous recent missteps and Buyers appear to be unable to power prices higher after a virtually […]

Russell 2000 Daily Chart with Current Implied Volatility Band Levels for Nov. 14, 2014

Buyers retreated to the sidelines Thursday as selling overwhelmed an unsustainable parabolic trendline. RUT is resting on important 8 Day Exponential Moving Average support, but an ominous “Bearish Engulfing” (prior session’s trading range within the current session and prices closing at/near lows of the day) pattern after an early session rally high favors future lower […]

Russell 2000 Daily Chart with Current Implied Volatility Band Levels for Nov. 13, 2014

RUT continues to float higher frustrating eager buyers and trapped short sellers alike, resulting in a possible capitulation Wednesday’s close. Only time will tell. However, prices have now extended into extreme overbought levels as confluent overhead resistance await nearby. What’s more, prices are clinging to an unsustainable parabolic ascending trendline increasing the likelihood of a […]

Russell 2000 Daily Chart with Current Implied Volatility Band Levels for Nov. 12, 2014

Sellers remain incognito as RUT continues to float higher and within our initial target price from the Symmetrical Triangle pattern breakout at around 1182. Is yesterday’s RUT high (1180.80) sufficient to qualify as a successful projection? It’s important to remember that it is better to look at our price projections and support/resistance tables as “price […]

Russell 2000 Daily Chart with Current Implied Volatility Band Levels for Nov. 11, 2014

RUT continues to march higher after Friday’s post Non-Farm Payroll report. Alas, prudent traders have not had the opportunity to enjoy the break higher unless entries were executed during the opening weakness Friday morning and then not existed at the end of Friday’s trading. As equity indices are now entering overbought levels on multiple confluent […]