themarketzone

3 reasons to try shorting $IWM tomorrow after FOMC

AMEX:IWM   ISHARES RUSSELL 2000 ETF
$IWM used the last day before FOMC to catch up with its fellow indexes with a strong rally.
The chart shows that $IWM has reached a very interesting zone for those who think that this aggressive pullback in indexes is just a pullback.
Downtrend line, 61.8 Fib retracement level and Daily resistance zone are three good reasons to try to short $IWM tomorrow after FOMC as long as it stays within this zone! Very important that the technical situation remains the same after the FOMC (even it it spikes higher and retrace back).
Monitor this zone and decide how you want to play it
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Tomer J,
The Market Zone - You trading Edge
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