The small caps are a great barometer of the overall investors' risk appetite. Yesterday's reversal is the first bullish sign. A session above yesterday's high and its 8EMA around $178.5 would confirm the trend change.
IWM is at a crossroads. If buyers step in this week they must fill the gap at 228.53 (in blue). 226.67 will be hard, but if they successfully get through and a daily close above 228.53 a run to 240 is not out of the cards THIS WEEK.
IWM can create a lower high low with a move to hold 220 tomorrow. Has some work to do to get over $227, but if we do it can gap fill to 228.54. Lets see if they want to double top IWM.
IWM Looking to get back to 226.90 by Friday. Get over there and back to ATH after a few days of consolidation.
RTY .618 tap on the fib retracement. I'm long here as a result. Good r/r after making ath.
V recovery to start tomorrow. We took off the first 2 of 3 legs at over 200% each. Loaded back on Thursday for end of December. Oh Yeah we're ready for 252.
IWM will be ready for the next leg up later this week. Stay patient. Once clear of $241.57, looking to get back to ATH. Most likely will rocket through it.
Same as the rest of the market: Pullback to the 8D, then continue the rip. Confluent with backtesting the breakout area from last week.
IWM in a huge accumulation channel and will most likely lead the market higher in the coming few months. Small caps season is coming. Enjoy it.
We have bounced off the 200 EMA on the daily chart . We are at support of the 34 ema on the weekly chart. We have had a long period of consolidation now. Corrections can happen with time or price. This has been a correction of time. The candle lows have been making higher lows and have been forming hammers on the daily chart . The higher lows on the daily chart...
Huge range over the last 6 months. Is it a sign of reckoning or will we have one big finale to this bull market with IWM leading?
if it breaks above or below the "blue dotted line" channel, trade accordingly. I am leaning towards long side because of earnings and russell rotation of stocks usually happens at the end of the June..... but I will wait for that break to happen to choose a side. Until then double diagonal or iron condor sounds like a good strategy to pick. Learn, Plan, Size...
It looks like we bounce here...
This looks like some good set-up. Potential $250-$278 in 2021
Hello Traders, IWM (Russell2000) has been one of our FAVORITE trades this year. We've participate on every major rally we saw. Those nice 6-10% overnight hold trades. We're waiting for the Russell and the Dow to join other indexes towards the ATH breakout levels. Let's go straight to the chart. 2 important levels: 1. $153-154 major breakout support 2....
Please do your DD. From my last SPY idea, we are in the bear/bull trap zone and where we go next is anyone's guess (Most likely down). We could be consolidating here to move higher one more time or gaining momentum for a downward spiral. We may have Gilead's and Roche's official news soon so we have to be prepared for a short squeeze. Also I am looking at the...