{"id":8604,"date":"2017-03-03T15:03:06","date_gmt":"2017-03-03T15:03:06","guid":{"rendered":"http:\/\/www.t3live.com\/blog\/?p=8604"},"modified":"2017-03-03T15:03:06","modified_gmt":"2017-03-03T15:03:06","slug":"qa-is-the-russell-2000-overbought","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2017\/03\/03\/qa-is-the-russell-2000-overbought\/","title":{"rendered":"Q&A: Is the Russell 2000 Overbought?"},"content":{"rendered":"

Hi Mike,<\/em><\/p>\n

I\u2019m a subscriber and I mostly follow Scott Redler\u2019s Daily Recaps<\/a><\/strong><\/span>.<\/em><\/p>\n

I just noticed that wrote about sentiment<\/a><\/strong><\/span>. <\/em><\/p>\n

Anyway, I only trade TNA<\/strong> and TZA<\/strong> (3X Russell 2000 ETF's). <\/em><\/p>\n

Don\u2019t you think it\u2019s way overbought?<\/em><\/p>\n

-Rolando<\/em><\/p>\n

The Russell 2000<\/strong> has come 21% since its pre-election lows, so under the most basic rule of the market — what goes up must come down, eventually — it may be overbought.<\/p>\n

But let's take a look at a chart of the Russell 2000 ETF<\/strong> (IWM).<\/p>\n

\"\"<\/p>\n

The Russell is\u00a0pretty far above its 200 day moving average.<\/p>\n

However, prior to the last pop off the February lows, the Russell spent 2 months doing nothing.<\/p>\n

And now, IWM basically riding the 8 & 21 day moving averages and building a new trading range between $138 and $141.<\/p>\n

So from a big-picture perspective, the Russell may look a bit overbought — but that may not mean that it's going to drop.<\/p>\n

It could very well drop into another low-volatility range which will allow it to work off the overbought condition.<\/p>\n

I'd watch to see if IWM tests the 50 day moving average, and how it behaves from there.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Hi Mike, I\u2019m a subscriber and I mostly follow Scott Redler\u2019s Daily Recaps. I just noticed that wrote about sentiment. Anyway, I only trade TNA and TZA (3X Russell 2000 ETF’s). Don\u2019t you think it\u2019s way overbought? -Rolando The Russell 2000 has come 21% since its pre-election lows, so under the most basic rule of the market — what goes up must come down, eventually — it may be overbought. But let’s take a look at a chart of the Russell 2000 ETF (IWM). The Russell is\u00a0pretty far above its 200 day moving average. However, prior to the last pop off the February lows, the Russell spent 2 months doing nothing. And now, IWM basically riding the 8 & 21 day moving averages and building a new trading range between $138 and $141. So from a big-picture perspective, the Russell may look a bit overbought — but that may not mean that it’s going to drop. It could very well drop into another low-volatility range which will allow it to work off the overbought condition. I’d watch to see if IWM tests the 50 day moving average, and how it behaves from there.  <\/p>\n","protected":false},"author":2,"featured_media":8605,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[378,546,496],"class_list":["post-8604","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","tag-iwm","tag-overbought","tag-russell-2000"],"yoast_head":"\nQ&A: Is the Russell 2000 Overbought? - T3 Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blog.t3live.com\/2017\/03\/03\/qa-is-the-russell-2000-overbought\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Q&A: Is the Russell 2000 Overbought? - T3 Live\" \/>\n<meta property=\"og:description\" content=\"Hi Mike, I\u2019m a subscriber and I mostly follow Scott Redler\u2019s Daily Recaps. I just noticed that wrote about sentiment. Anyway, I only trade TNA and TZA (3X Russell 2000 ETF's). Don\u2019t you think it\u2019s way overbought? -Rolando The Russell 2000 has come 21% since its pre-election lows, so under the most basic rule of the market — what goes up must come down, eventually — it may be overbought. But let's take a look at a chart of the Russell 2000 ETF (IWM). The Russell is\u00a0pretty far above its 200 day moving average. However, prior to the last pop off the February lows, the Russell spent 2 months doing nothing. And now, IWM basically riding the 8 & 21 day moving averages and building a new trading range between $138 and $141. So from a big-picture perspective, the Russell may look a bit overbought — but that may not mean that it's going to drop. It could very well drop into another low-volatility range which will allow it to work off the overbought condition. 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I just noticed that wrote about sentiment. Anyway, I only trade TNA and TZA (3X Russell 2000 ETF's). Don\u2019t you think it\u2019s way overbought? -Rolando The Russell 2000 has come 21% since its pre-election lows, so under the most basic rule of the market — what goes up must come down, eventually — it may be overbought. But let's take a look at a chart of the Russell 2000 ETF (IWM). The Russell is\u00a0pretty far above its 200 day moving average. However, prior to the last pop off the February lows, the Russell spent 2 months doing nothing. And now, IWM basically riding the 8 & 21 day moving averages and building a new trading range between $138 and $141. So from a big-picture perspective, the Russell may look a bit overbought — but that may not mean that it's going to drop. It could very well drop into another low-volatility range which will allow it to work off the overbought condition. I'd watch to see if IWM tests the 50 day moving average, and how it behaves from there.  ","og_url":"https:\/\/blog.t3live.com\/2017\/03\/03\/qa-is-the-russell-2000-overbought\/","og_site_name":"T3 Live","article_published_time":"2017-03-03T15:03:06+00:00","og_image":[{"width":700,"height":600,"url":"https:\/\/blog.t3live.com\/wp-content\/uploads\/2017\/03\/RUTov.png","type":"image\/png"}],"author":"Michael Comeau","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Michael Comeau","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/blog.t3live.com\/2017\/03\/03\/qa-is-the-russell-2000-overbought\/#article","isPartOf":{"@id":"https:\/\/blog.t3live.com\/2017\/03\/03\/qa-is-the-russell-2000-overbought\/"},"author":{"name":"Michael Comeau","@id":"https:\/\/blog.t3live.com\/#\/schema\/person\/fba749facdb049b3468b79104546c739"},"headline":"Q&A: Is the Russell 2000 Overbought?","datePublished":"2017-03-03T15:03:06+00:00","mainEntityOfPage":{"@id":"https:\/\/blog.t3live.com\/2017\/03\/03\/qa-is-the-russell-2000-overbought\/"},"wordCount":198,"commentCount":0,"publisher":{"@id":"https:\/\/blog.t3live.com\/#organization"},"image":{"@id":"https:\/\/blog.t3live.com\/2017\/03\/03\/qa-is-the-russell-2000-overbought\/#primaryimage"},"thumbnailUrl":"https:\/\/blog.t3live.com\/wp-content\/uploads\/2017\/03\/RUTov.png","keywords":["IWM","overbought","russell 2000"],"articleSection":["Articles"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/blog.t3live.com\/2017\/03\/03\/qa-is-the-russell-2000-overbought\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/blog.t3live.com\/2017\/03\/03\/qa-is-the-russell-2000-overbought\/","url":"https:\/\/blog.t3live.com\/2017\/03\/03\/qa-is-the-russell-2000-overbought\/","name":"Q&A: Is the Russell 2000 Overbought? 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