Online trading platform reviews. Russell 2000 price prediction as US stocks are most hated in March
The last trading week in March has started slow, with financial market participants still digesting the recent events. Several banks failed in the United States, rivals acquired some, and things appear to have calmed down.
While many talk about a banking crisis that will spill over to other parts of the world, US stocks remain resilient. For example, despite terrible news, the S&P 500 is up two weeks in a row. Also, the Nasdaq 100 index trades at a seven-month high.
Moreover, US stocks are the most hated asset, while cash is the most loved asset. Whenever this happens, it is a great time to buy equities, at least from a contrarian perspective.
Russell 2000 forms a bullish triangle
Russell 2000 is a small-cap US stock market index. It comprises the smallest 2000 stocks in the Russell 3000 index and recently formed a bullish triangular pattern.
Russell 2000 chart by TradingView
Elliott Waves traders know the pattern as a double combination. It is formed out of two corrections connected by an intervening wave.
Almost always, a triangle forms at the end of the pattern. In this case, the e-wave is in the makings and the focus shifts to the b-d trendline. If the price action bounces from the current area and heads towards the b-d trendline, then the triangle’s measured move hints at more upside.
However, there is one catch. The price action must reach the b-d trendline in less or the same time it took the e-wave to form. Should this condition be fulfilled, it confirms the triangular pattern and, implicitly, the double combination.
To sum up, a move above 2,000, respecting the time rule mentioned above, implies new highs for the Russell 2000 index. Time to be a contrarian in the face of adversity?
Here are reviews of some popular online trading platforms:
Robinhood: Robinhood is a well-known commission-free trading platform popular among beginner investors. It offers a user-friendly mobile app and web platform, making it easy to buy and sell stocks, ETFs, options, and cryptocurrencies. However, Robinhood has faced criticism for limited customer support and occasional outages during high market volatility.
TD Ameritrade: TD Ameritrade is a widely used platform known for its powerful and feature-rich thinkorswim platform. It offers a wide range of investment products, including stocks, options, ETFs, mutual funds, and futures. TD Ameritrade provides educational resources and has strong customer support. In 2020, TD Ameritrade was acquired by Charles Schwab, and the two platforms are in the process of merging.
ETRADE: ETRADE is a well-established platform offering a variety of investment products. It provides a user-friendly interface and a range of research and educational tools. ETRADE offers commission-free trading for stocks, ETFs, and options. In 2020, ETRADE was also acquired by Morgan Stanley, and integration with Morgan Stanley's services is underway.
Fidelity: Fidelity is a reputable brokerage platform with a long-standing history. It offers a wide range of investment options, including stocks, options, ETFs, mutual funds, and fixed income products. Fidelity provides extensive research and educational resources, along with excellent customer service. They have also introduced commission-free trading for stocks, ETFs, and options.
Interactive Brokers: Interactive Brokers is a popular platform among active traders and professionals. It offers a comprehensive suite of tools and advanced trading features. Interactive Brokers provides access to a wide range of investment products and global markets, along with competitive pricing. It's known for its robust trading platform and in-depth research tools.