IWM

Head and shoulder pattern completed at December lows or 170..
Next move is to retest that neck line at 181 but the first target will be 177...

177 will be a tough nut Crack. Look to cover and renenter over 178 if there is a struggle at 177

Comment:

Forming a pennant here.. could be bearish or bullish.. wait for the break in direction

Comment:

Broke to the down side of that pennant I mention , bounced off 170 again and now has formed a bear flag..

Short below 170 , otherwise stay away.. calls over 174.. target 177

Comment:

Rejected off 177 again today...
Support areas are 173 then 170..

I highlighted in yellow the accumulation that took place before in December...

You'll know If this market will take the next leg up if IWM breaks over 177..