$IWM... Pay attention to larger time frames.

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I had to search for this leg start on lower time frames, which doesn't leave me so confident with this move, but I am going to stick with it. I think they will test it, and because downward momo still needs to be worked off, I could see a large move to this area, followed by intense buying.
@JR, I also treat every market as individual markets whether they have historically moved together or not. I look at price action and what charts tell me. IWM doesn't always move in sync w/ SPY as we have seen SPY has continued to surge to new highs as IWM has been range bound since OCT last year(which there is a reason for). SPY had nearly 20 years of ACCUM, where as Russell has only been in accum for 10 years. So it needs to Re-accumulate in order to move higher. We can always look for correlations, and often times they play out, but rule #1 in my book is treat every market(stock, forex, future) as individual markets to prevent any false readings.
Conflicting ideas, IWM to 110 and back up to 120. While you have SPY going down over the next 6 weeks.
+1 Reply
play4trade QuantitativeExhaustion
I'm not paying attention to time. I'm concerned about the move. The ideas don't conflict. Look at % of move. I don't predict time frame.
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