goodguy
Short

Short term follow up on Russell 2000: Still short.

AMEX:IWM   ISHARES TRUST
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2
Since my last posting 6 days ago the RSI on the 2 and 4 hour charts have developed a bearish divergence after the negative reversal. This combo often leads to lower prices. Price is at the upper channel trend line . I favor that price is forming a 5 wave triangle as often occurs in the wave 3. If so I will take partial profits at "D". If you are not already short you may want to wait til price today breaks below the shorter uptrend line with a stop just above today's high. Good trading to you. Goodguy.

2x bear ETF: TWM 3x bear ETF: TZA

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