IWN Russel Index ETF ShortIWN on the reliable daily chart has been trending down for two in a descending channel as
shown on the chart with upper and lower trendlines drawn with the tool. The Stochastic RSI
oscillates in the interval between oversold and over bought and presently is well
overbought at nearly 100. While the RSI may double top like it did in July, it is at least right now
at the first top. The zero lag MACD is confirmatory with a K/D line cross well above the
histogram. I will play this by buying a put option at a strike of $ 150 for October 24
If Biden tries to prompt up the market to gain a re- election and is successful, this will get
stopped out. If interest rates are not pulled back by the fed soon, small caps will continue to get crushed.
On the other hand when rates are pulled back, they will be nimble and recover quicker than
the large caps and it will get stopped out. I think the fed will pullback rates to help Biden
out, although the fed is not partisan ?
Oil prices in their downward trend lend support to a slow fall off in the inflation rate.
What goes for IWN also goes for DIA.
IWN trade ideas
RUSSELL 2000 IWN is approaching a key levelIWN as shown on the weekly chart has been obviously in a downtrend as also shown by
the EMA ribbon.
Using the uptrend from the Covid crash into November 2021 and then a retracement from that,
IWN is approchaing the 38.2 Fibonacci level at 128
From there it could bounce up or continue the downtrend.
The Mass Index being below 27 suggests a continuation before any potential reversal.
The MACD indicator shows the MACD in blue crossing down on the signal in red.
This also suggests more downtrend.
All in all, this analysis is bearish on the Russell index and its ETF.
Sector Rotation from Small Cap Growth to ValueSector Rotation from Small Cap Growth to Value -
IWO: the Ishares small-cap Value ETF
IWN: The Ishares small-cap Growth ETF.
This chart plots the strength of Value vs Growth - if its trending Higher Value is in favor by the markets. If it's trending lower, Growth is in favor.
IWN - 10.50% Potential Profit - Swing Trade SetupGood risk / reward ratio on this trade.
Breakout past a 3-month correction.
- Target Entry: $167.50
- Target Stop Loss: $165.02
- Target Exit: $185.29
- Risk / Reward Ratio: 7.17
About me
- Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss
- When I see that the market is opening too high/low, I wait for 30 min from the opening bell before placing my order. This is to avoid that initial spikes / drops get me into a position and get me out right after.
Les Miserables Russel... The EW Confrontation!Russel done making it's correction with a EW triple combination.
Finding support at the middle of trend channel.
More important...Closing within bollinger band.... I see a move up here.
Safe trading Ladies and Gents!
BM
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