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This Week’s Idea for Russell 2000 Futures

I share my top trade setups whenever I have a big, new idea for the market… 

And to invite global comments, I provide the core chart and discussion on my TradingView page right here.

This week, the Russell 2000 futures market (RTY) is positioning for a potential drop back into the sell zone, which could lead to a big downside move.

So, let’s take a look at this market today and see what we’re looking for to give us the sell signal… 

This Week’s Idea for RTY

Here’s how the chart is setting up my trade idea for this week for the Russell 2000 futures market (RTY)…

 Russell 2000 Futures Contract (RTY) Price and Technical Analysis – Source: TradingView

And here’s how I see the trade setting up for this week’s idea…

The RTY daily time frame is in a down channel. The market is at the top of the channel. 

If resistance holds, the research says to expect the market to push bearish towards the bottom of the channel price point 1,554.60, about -2,620 ticks below the market.

It will be a good idea to wait for the market to close below the short term up trend line before turning to the one hour time frame to look for selling ideas towards the bottom of support.

The Bottom Line

For more on the markets as well as trading education and trading ideas like this one, look for the next edition of Josh’s Daily Direction in your email inbox each and every trading day.

Also, be sure to check out my TradingView page and follow my work right here.

I’ll be bringing you more of my stock and futures contract trading tutorials as well as some additional trading ideas.

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Keep on trading,

P.S. In addition to my trades in the futures contract markets, my pal Ross Givens here at Traders Agency continues to come up with some great under-the-radar stocks for stealth profit opportunities. 

And he showcases these opportunities in his premium Stealth Trades service… Right now, you can get a full year of Stealth Trades for just 99 cents… What are you waiting for?

The post This Week’s Idea for Russell 2000 Futures appeared first on Josh Daily Direction.

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