$IWM bear/bull case
BULL CASE
If uptrend from 7/31 in channel continues:
BEAR CASE
Open to any thoughts/feedback. Mostly going through this exercise to force myself to be clear-eyed about risk reward.
- Channel support looms.
- Big volatility down trend (RVX) - possible support of 29 in RVX from March breakout.
If uptrend from 7/31 in channel continues:
- 166 would be fill of Feb gap down.
- ATH's come next at 171.
- Multi-week, channel upside goes to 185.
BEAR CASE
- Bearish divergence on RSI, riding up on down volume.
- Multiple support levers that could get swept away in sell-off.
- Double top alive if bears capture ~154 in the near future.
- Early August gap needs filling down to 151.
- Mid June gap needs filling down to 142.
Open to any thoughts/feedback. Mostly going through this exercise to force myself to be clear-eyed about risk reward.
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