DavideG
Short

IWM - Bearish Signals, Expect Downturn

AMEX:IWM   ISHARES RUSSELL 2000 ETF
317 3 3
IWM             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
Price & RSI target both hit - exited at $113.24. 12.15.14 11:56am
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Chart untouched, IWM has risen 7% since exit. Perfect example of why you stick to your trading plan. 12.29.14 - 1:45pm EST
snapshot
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