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mrd2015
Jan 29, 2012 5:41 PM

IWM 

iShares Russell 2000 ETFArca

Description

Looking for possible weakness to the downside here. Bearish wedge formation approaching a key retracement point @ 33% of the low. Also budding up against the 25/1 angle. I'm expecting the 6/1 and/or 8/1 to give support to the downside. Since the 6/1 is a trendline, it is less important of an angle now. Secondary shorting target would be the 37.5% line at the 50/1 angle.
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