jakelikesstocks

The Chart Shows Concern for IWM

Short
AMEX:IWM   iShares Russell 2000 ETF
Symbol: AMEX:IWM

Indicators
Laguerre RSI
Multi-Time Frame EMA x2

Thoughts: This chart looks very bearish but I'm hesitant to sound the alarm due to how many topping patterns we seem top gap above. The bullish case for the IWM would be the LagRSI crosses above this bearish zone with a close above the rounded top and confirm the violated trendline as support. Without that, this stock is at risk for falling sharply.
Comment: Rounding top looks like it sholding strong on the 4h time frame. This could be setting up for a big move.
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