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Short

$IWM: Potential ABCD Pattern

BATS:IWM   ISHARES RUSSELL 2000 ETF
220 1 1
IWM             made new all time highs at a target of roughly 104 that I called last week. This level was extremely particular due to various Phi convergences. Also, notice the curve tracing that visually indicates contracting delta. This means our rate of change is approaching zero, and potentially becoming negative. As summer volume continues to dry, I expect a pull back to .618 and/or 50% fib levels.
http://www.infinitemargin.com
...Bingo! Phi, leads the way as usual.
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