IWM Long Term Perspective
Updated
IWM saw a very strong bounce with triple positive divergence.
After a very unhealthy rally in the last couple of weeks, we have seen IWM struggle to go green on the daily.
With the RSI extended like this we could tap the trend line one last time before the Fed pivots and we rally into 2024. Then Crash.
IWM is a great representative of the true economy rather then the mega caps who blur everything.
There was a very large triangle pattern that was broken on the down side, which I can definitely see moving further.
If the GREEN support line is broken, I will close out my trades.
After a very unhealthy rally in the last couple of weeks, we have seen IWM struggle to go green on the daily.
With the RSI extended like this we could tap the trend line one last time before the Fed pivots and we rally into 2024. Then Crash.
IWM is a great representative of the true economy rather then the mega caps who blur everything.
There was a very large triangle pattern that was broken on the down side, which I can definitely see moving further.
If the GREEN support line is broken, I will close out my trades.
Trade active
If I abided by my own rules, I would have lost out on so many gains.....Watch for the pull back and rocket!
Trade closed: target reached
;)Trade active
waiting to buy in the 180-185 range.Trade active
Were going to drop.Note
If IWM stays strong after tech corrects, market breathe would still be bullish long term.
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