ES Wave Count - Corrective Wave to $3790
$IWM RTY would be in trouble below 2100 This week is a good week to play short if the momentum on the small cap index sells to the downside.
$RTY Below 1965 is 1877 in the short term
My custom-coded indicators are pointing to a small bull run in financials over the next few weeks. I'm waiting for the green bar to turn grey, but my indicators are saying it's gonna happen
Bullish long term, but we need to get through some more fear first. COVID
Price stopped (1) right at Pivot S1 and (2) just above Fib 0.876. RSI is also aligned with previous bottom. If a multi-day uptrend happens from here, the 3x ETF will gain more than 3x by the end of the trend due to positive compounding. If choppy volatility instead continues in both directions, then holding IWM would have been the better bet. Survey: Which would...
Compelling if this cluster of support holds
This is triple leveraged inverse Russell 2000 ETF. It is flawed due to negative compounding in downtrends.
The third major buying opportunity of this security's life is now. If the coming advance mirrors the previous advance, then $130-135 should be hit (see the two back-to-back Fib drawings). This is a monthly chart and the security is volatile, so expect plenty of choppiness along the way.