It's easy to be bearish IWM given the underperformance relative to SPY (and nearly everyone is), but a look at the short term trend shows a break above the falling price channel, and prior channel resistance is now acting as support. Two attempts at the 115.72 level, where a change of price trend is confirmed, have failed. There is no such thing as a triple top, so they say. Three times is a charm. Long setup on a 3rd break of 115.72 to the upside. Target of 117.50, marking the beginning of the falling channel, or a trailing stop. Stop placed below the last swing low at 115.29.
In particular, you should spend no time at all thinking about those rosy scenarios in which the market goes your way, since in those situations, there's nothing more for you to do. - William Eckhardt