Russell 2000 looking bullish

Chris L
Category:  Trade Ideas
Russell 2000
The Russell 2000 fell initially during the week, but is starting to show signs of support at the 14,000 level. Because of this, it is good for underlying stocks, and a longer-term play may be setting up. On a break above the top of the weekly range at 1430, I believe that the Russell 2000 will continue to drive US indices higher.

Buying Russell 2000 contracts at 1450
stop loss at 1425
take profit at 1500

Swiss SMI
The Swiss index looks especially vulnerable after the action on Thursday, as we approach the 20 day exponential moving average. On a break below that moving average, I'm a seller as I think we are going to go looking for support at lower levels.

Selling Swiss SMI at 8980
stop loss at 9100
take profit at 8800

Amazon continues to look very bullish, as we find the $975 level to be support. We also have an uptrend line that is holding, so it looks as if the longer-term uptrend will continue and we will eventually break above the psychological barrier near the $1000 level.

Buying AMZN at current levels
stop loss at $973
take profit at $1010
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