Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Russell 2000 Futures - Jun 24

CME
Symbol
Exchange
Currency
RTYM24CMEUSD
US2000DerivedUSD
RTYc2CMEUSD
RTYc3CMEUSD
Currency in USD
Disclaimer
2,015.20
+22.00(+1.10%)
Delayed Data

Russell 2000 Futures Discussions

Hi guys, I'm fairly confident that we have seen the bull cycle peak for the Dow Transports. If you recall I notated a chart of $DJT comparing the present period to the lead up to the 1990 recession. The consensus opinion was last year's economic contraction was a "recession" and the Covid stock market crash reset the market for a "new" bull market. I don't agree with that view, either that we had real recession or that this is a fresh bull cycle for stocks. Right now I'm working on a chart of 3 of the largest stocks in the US, $AAPL, $MSFT, and $AMZN. They have a combined market cap of over $6tn. The following chart is an equal-weighted synthetic index of these three mega-caps... https://www.tradingview.com/x/j0JBq1yc/ ... The chart is a work in progress. But I think this trio is the next shoe to drop with the first of which being the Dow Transports which have already rolled over in convincing fashion as seen here... https://pbs.twimg.com/media/E7W8aERWUAkeTGL?format=png&name=4096x4096
 Could get more volatile. Bigger swings, up and down. Recent dips continue to be bought up, especially in larger stocks. Money continues to rotate from one sector to another, from one cap class to another, which keeps the wheels on the bull market greased. It's the name of the game. For the time being I expect BTFD mentality to persist. No positions currently. I have no interest in shorting the broad indices. The overall market could and likely will grind higher. Record inflows have been reported this year for US equity funds. International money continues to flooding in although the rate is cooling off from Spring levels. For both my DJT and AMZN/AAPL/MSFT charts  the prior cycle peaks came well in advance of the SPX's peak. For example the Dow Transports peaked approx 308 days before the S&P500. The tech trio peaked peaked at yearend 1999 and SPX peaked 3 months later. Take my charts with a grain of salt. I'm not sure of their relevance to the current period and TA is hardly reliable.
 Bro I have also done some fundamental analysis of the rates and the bond market, and I have been a bond bull for a while, my reading is that dxy and bonds continue to rise, Fed reverse repos continue to be over-subscribed, there is no real lending growth happening (housing demand also falling), and yields might fall further, which could signal weakness in reopening/Russell, and continuing strength in tech due to risk-off sentiment.
Great to see you back :)
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.