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Four Hour Chart For Short Russell Position

AMEX:IWM   ISHARES RUSSELL 2000 ETF
33 1 0
The MA crossovers are indicating a short position in the Russell 2000. Definitely not long unless the new trend line is broken. I have given the price action quite a bit of sideways latitude before it would break the trend line .

If the downward trend continues, the upper bollinger band will actually turn up, indicating an unpredictable market. Also the stochastics will become embedded beneath the 20 line.

The bottom may be out of the tub and there may not be a better short entry than 114.50. Do not put on too large of a position because the Russell is very dynamic and loves to hit stops and reverse on you. This is a long term play until the trend line is broken or you feel comfortable banking some profits.
Monday Pre-market shorted @ 113.84 with a modest first scale in. If it gets to 116 I will look to scale in again.
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