claydoctor
Short

IWM channel and possible sloppy HS

AMEX:IWM   ISHARES RUSSELL 2000 ETF
12 0 0
IWM             left the descending channel the other day on that very low volume pop. I was dismayed a bit, and just watched for a few days. But on 4-15 the same thing happened with higher volume , and popped right back into the channel. 4 or 5 more days until 6-5 ECB. Just enough time to touch the resistance, and break back down when the "watchers" play again, and the volume spikes and we go much lower, which would result in a sloppy HS. This chart pattern has been with us for a while, and for the markets to break out of it, would take some major players and plays like, both ECB and BOJ to QE             more than expected, when the expectations I listen to say both will more likely do nothing for now. IMO.
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