Currently: Short here Looking to: Cover @ 2,007
As of 1/17/21 @ 6:25pm EST: 2,120.10
LAST WEEK: We suggested buying dips in RTY futures to 2,003 with stops below 1,995 and with a target of 2,180.70 for selling longs / getting short.
UPDATE: Small caps continued to trade bullishly all week – at least until Friday. On Friday, the RTY futures dipped sharply after starting out near Thursday’s closing levels. That’s not exactly a “bearish engulfing” or “island reversal”, but it’s not a bullish development either. We would short at current levels with stops on a close above 2,171.70 and with a target for covering shorts at 2,007. We would suggest new longs at 1,912.40 with stops below 1,895 and with a target of 2,171.