SPYThe S&P is under some selling pressure, which we can see in the upper vwap levels.
What we are looking for is to see if we gain or reject the upper vwap levels if rejection look for us to challenge the buyers at the lower vwap levels.
IWM
TOP ALT WAVE COUNT 249 ON DEC15 IWM THERE are 3 wave counts within the IWM VERY BULLISH WE ENDED WAVE 2 ALT is we ended a wave 4 within a diagonal and the 5th wave would end at 249 plus or minus 1.5 pts being a .618 of wave one up from march 2020 low and is wave 1 and 5 being within the 5th this is an area to which I WILL SELL OUT MY NEW 100 % LONG I WILL NOW PLACE A STOP AT 227 CLOSE ONLY . NEXT YEAR THE IWM WILL DECLINE OVER 16% MIN
RTY LonnngggRTY .618 tap on the fib retracement. I'm long here as a result. Good r/r after making ath.
$IWM Target 221$IWM Target 221
Lot’s of signs pointing down at the moment, and I have my eyes set on 221
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WAVE 3 OF 5 BLOW OFF IS STARTING IN ALL INDEXES The markets look to be setup for wave 3 of 5 to start . i am going back to a net 100 % long in calls only
IWM: $252 comes over the next 3 Weeks!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.
IWMLast week was a depressed week for small cap investors with a lot of stock reaching extreme oversold conditions not seen since the subprime crisis. The volume was also very low, which leads me to think that it was a possible tax selling reason. With the small-cap index pulling back to test the support zone previous resistance area, we might start to see next week the first signs of a rebound.
Tech vs small caps let’s see these break out levels Once tech beats these resistance areas it should be off to the races.
Either straight up through the first and on to the second or maybe let the 50 dma catch up to the 100dma for a tick and bounce around a moment before breaking through
Leading Indicators panel point to a burn outLooks like the S&P500 should be running out of steam soon, based on the panel of leading indicators which most are about turning.
JNK just about broke down and topped out a pattern.
Russell2000 and the broad market Value Line failed a breakout.
VIX and TLT are about to break out.
The ES futures weekly chart have indecisive candlesticks for the past two weeks.
While not a bear trend, a likely technical retracement due...
Heads up
IWM - Doesn't Get More BearishJust another bearish post. All three of my regular indicators are now pointing to $IWM taking a dump.
Bollinger Bands, IWM is below the 20 DMA.
Stochastic flashed a bearish signal a few days ago, and is heading to oversold territory.
MACD crossed said to sell on Wednesday.
A contrarian investor would say its a good time to buy though. Persoanally, I'm selling call spreads for Dec expiration.
20 year elliott wave analysis ($iwm)someone asked me this evening if i thought iwm was in a phase of distribution right now- so i decided to take a deep dive into the entire history of this chart, and here's what i've come up with.
no, i do not think it is in a phase of distribution, instead it actually looks like a massive bull flag - in elliott wave theory terms, i'll call it a double or triple three - hard to say for now, since it is only halfway through this flat corrective phase.
my low ball long term upside target for iwm is at $335, high ball would be $375
this is in confluence with my 12 year spy analysis, you can view it down below:
ps. flat corrections can take a really long time to resolve, so i'd wait for a definitive break out, and a retest of the entire channel that it's in right now before attempting to play that upside swing.
Opening: IWM 213/250 Short Strangle... for a 3.22 credit.
Comments: Selling the 16 delta strikes here. 3.22 credit on buying power effect of 30.13; 10.7% ROC at max.
IWM WAVE 2 DOWN IS ENDING NOW BUY CALLS IN IWM FEB AT MONEY We just pulled back to a .618 of wave 1 of 5 up if the wave is bullish . stop 2 point below todays low best of trades WAVETIMER
LONG RUT: 8MONTH CONSOLIDATION BREAKOUT CONFIRMEDLong rut for 2600
rut breakout of ath consolidation after 8 months. recent bear failed to break down and invalidated =breakout BOOON confirmed.
IWMsmall caps seem ready to boost higher after this pullback. If it maintains the support it just did this would be past resistance acting as support and we'd be en route upwards to 270 for IWM.
