Currently: Cash Looking to: Buy @ 2,002
As of 1/8/21 close: 2,089.50
LAST WEEK: We suggested shorting at last weeks levels with stops on a close above 1,993 and with a target for covering / getting long at 1,820.
UPDATE: Small caps are another example of surprising strength that has forced prices past upside projections. The next possible ceiling for the Russell 2000 Smallcap futures comes in at 2,180.70. From there, we could see a pullback to 1,930.
We would buy dips in RTY futures to 2003 with stops honored on a close below 1995 and with an upside target of 2,180.70. We would sell longs / get short at that level with stops on shorts above 2,200 and with a tgt of 1,930.