IWM has clearly benefited from the “sector rotation” out of tech, but I think this run is about to fizzle out. The run up was on a dwindling volume. RSI is currently way overbought. The MACD and Stochastic combo are signaling a divergence. Couple this with a potential bumpy week ahead- FOMC, bond yield, and the spooky quadwitching- and I feel like IWM is a prime put candidate.
Comment:
$$$ I made good, so closed most of my position.(Just my money management strategy) still should see more downside over the next few days/week. Cheers
Trade closed: target reached:
TARGET REACHED! $$$$