Er2 Market Calls & Commentary

Quote from joeyata1:

this is a broken index and all rallies should be shorted
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Broken? Do you mean it is in a bearish cycle? Or that the index is loosing relevance?
 
Hi again ,

still focusing on the short side. Would go short around 693.30 and target the 685.00 level for tomorrow. We might see temporary support around 692.00, but I believe that support will easily be broken. Other than that, I'm looking forward for the market to test the 675.00 level again this week.

as you will see in the chart below, the 200ma is still applying downward pressure on the market. Also, you'll see a nice bearish pennant formation. There's a small possibility it could break on the up side


Good luck and good trading to you all :p
 

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Quote from joeyata1:

lol the er2is broken and gone for the count. might run to 710-715 but this dog is done. one up day and people start calling for 740 like this is some sick game. yeah 4 weeks of damage jsut erased in days yeah right.look to short hard next week this bear market has just begun
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Tend to agree with you.

The % decline of ER vs. ES on 6/16 was surprising.

Was in a swing trade from 6/14 and sold 6/16 AM.

Would have been way ahead if I sold @ Thursdays close.

Daily's looked like mkt was going to run a few days at least without such a large pullback.
 
you have to understand, ER2 most of the time outperforms or outdeclines most of the indexes because it's composed of small-cap stocks.

If you look at the charts, the ER2 has been kicking the butt of the rest of the indices the past 52 weeks. It's only fitting that it corrects much more than the rest of the indices.


Broken? ughh... I don't think so. ER2 won't drop if the Dow and SPX go up from here. If the 2 major averages go down, then this thing will follow. That's just how small caps are.
 
Quote from lolo24ca:

waiting for 690.4 to go short
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...and out with 3pts


support at 688.00( daily S2) is getting weaker. Er2 will probably see 685.00 by the end of the day
 
games over fro er2. the bounces have gotten shallower and shallower. i expect a test of 600 by oct at a min and maybe the 550 area if things get bad
 
Quote from joeyata1:

games over fro er2. the bounces have gotten shallower and shallower. i expect a test of 600 by oct at a min and maybe the 550 area if things get bad
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The er2 is definitely in trouble. But I would wait and see what happen between 650.00 and 660.00. The bulls MIGHT take control around that area. If not well, the bears will bring down to 600... check the chart for more details :)
 

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Market call for june20


Short: 682.40


target1: 678.80

expect resistance at the 677.00 level for a while

target2: 674.70


Good luck and good trading to you all :)
 
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