Russell at close 9/18

My last week  http://erickstern.blogspot.com/2013/09/russell-wednesday.html target for the RUT was reached today, as customary I had to overcome my what if symptom:  what if the markets keep on going.

Anyway I sold at the close my UWMs with a 4% profit, not bad for 6 days work.

The Russell with an angle below 50 degrees looks like it could increase for a few more days before a correction that will allow buying again or shorting,  the angle have not reached its max average value.

I had projected the SPX with a 0.60% profit from last Wednesday, the 2.15% gain contributed to my Russell sell.

Russell Wednesday

Target is at 1080, stop loss at 1007, closing prices
Ten days top

Russell 2000, things to know for Tuesday

Looking for a quick 1+% in a couple of days trading the Russell, what we need is an up day tomorrow, it could be a marginally gain, even a 0.05% will do.
If the Russell close up tomorrow we’ll have a chance since of all the groups I follow the Rut is the only one with 2 consecutive days of increasing pressure. I’ll post Tuesday after the close with a target.
Is not prediction is reaction.
Shalom,

S&P 500, a few things you need to know for Monday

1639.30 is support, a close on Monday below this level is a strong indication for shorts,  I would wait for the price to close below the channel. The market did overextend until 1627.47 so a short signal this week is under an “it won’t work” suspicion.

Buying pressure range for last Friday was at 1640.61, for next Monday is at 1639.30, longs, au contraire to shorts, need at least two consecutive days of increasing buying pressure. A close tomorrow above buying pressure range gets the longs and edge but is not a buying signal.

I’ll try to post Monday after the close, my analysis of buying and selling pressure ranges is short term, five to ten days top.

Paz,