has had a nice run since bottoming on October 13th, rising more than 13% in the last month. Expecting IWM
to run out of steam here, however. Possible double top
, declining volume
and once again faces significant resistance at the upper RSI trend line
, which has been intact for nearly 2 years. As highlighted, IWM
fell 11% and 8.5% when last hitting this line. Disclosure: When I trade indices, it is typically for hedging purposes. Target is $113.4.
11.14.14 - 3:09pm EST