failure here would be great downside
Comment:
IWM is currently going to test the bottom trendline of broadening wedge. very curious to see if this breaks. I took off 1 contract to lower risk. Holding the last 2 for the long haul.
Comment:
IWM has bounced off the bottom trendline of broadening wedge. I closed 2 contracts near the trendline and will leave 1 more runner in case of more COVID fud news sending the market reeling. Could push back up with FED/MM manipulation
worldometers dot info
Daily new cases of COVID19 in USA are blowing through 7 daily moving average. This increase is bearish which is why I went short IWM. QQQ/SPY both are performing relatively well during COVID but small businesses will suffer if lockdowns (or even more bearish, states that have opened and re-locked down) increase. If we hit over 40k/day cases I think that will spook many investors here in America. Roughly 20% of all cases reported for COVID worldwide are from the USA.