IWM watch
with the announcement of rate cuts .25 bps in 24, it's a good time to start watching price action of Rusell to start a position. still ping pong action in this megaphone pattern. the common misconception is that rate cuts are good for equities, when i believe it is not. thesis is that when stock market starts to cool off and hit major supports. up to interpreting price action each day/week to know what will happen after. assess strength of each support through volume.
we either breakout this megaphone and go on a run, or we keep ping-ponging, so i feel no rush entering a position at the moment.
we either breakout this megaphone and go on a run, or we keep ping-ponging, so i feel no rush entering a position at the moment.
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