If this weekly candle can close below the the 2.618 extension of primary wave 1, then I like $IWM to correct back to the support line ~$190 for a primary wave 4. If these trend lines are to be believed, then the timing for wave 4 will be accurately forecast as well.
Comment:
Possible that wave B of an expanding flat is in, having just ticked within a penny of the 1.38 inverse of wave A.
