clue that few are watching... JNK blew down under 50 day and 200 day... fall in JNK often precedes BIG market drop... $NYMO falling as well... needs more down as market stays up until BANG. triple divergence on QQQ also a BIG warning sign... IWM prolly comes up a little again, then I will BUY TZA... your thoughts on next 6 weeks?
IWM looks like it has been distributing for a while now. The daily has been effecting the monthly and weekly charts setting up for what looks like a reversal of trend and leg down. Everything on the daily pretty much looks tested, as they tested sig levels on the way up. I'd like to see about 100/101 get tested. Probably looks like crazy levels, but IWM will eventually test 89 and 83 zones.