Be it the longest government shutdown in history, the largest increase in October layoffs since 2003, the increasingly unconvincing price action, shifting momentum picture, or the descending triangle it’s coiling in, the purest cyclical play in the U.S. equity index universe—the U.S. small caps 2000 contract—looks vulnerable to downside.
2420 is where bulls and bears are currently slugging it out, marking support that’s held since mid-October. While the price continues to bounce from the level, the moves are becoming increasingly small, hinting that downside may loom.
A break and close beneath 2420 could see shorts established with a stop above to guard against reversal, targeting 2370 support—an area that’s consistently attracted buyers since September.
RSI (14) is trending lower and sits beneath 50, indicating building downside pressure. MACD is entering negative territory after crossing the signal line from above, suggesting directional risks are skewing lower even if the signal remains neutral for now.
Good luck,
DS
2420 is where bulls and bears are currently slugging it out, marking support that’s held since mid-October. While the price continues to bounce from the level, the moves are becoming increasingly small, hinting that downside may loom.
A break and close beneath 2420 could see shorts established with a stop above to guard against reversal, targeting 2370 support—an area that’s consistently attracted buyers since September.
RSI (14) is trending lower and sits beneath 50, indicating building downside pressure. MACD is entering negative territory after crossing the signal line from above, suggesting directional risks are skewing lower even if the signal remains neutral for now.
Good luck,
DS
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.