YaKa
Short

R2K - Worth a Try - Short

AMEX:IWM   ISHARES RUSSELL 2000 ETF
173 3 6
This configuration is very pivotal:
1) this is the third time R2K reaches that level so it is the point of decision: breakout or triple top.
2) R2K has been flirting with the lower band of the previous channel for 2months and so far has been unable to get back in.
3) Sp500             looks capped at 2080. The configurations are alined.

I am not certain these will hold but there is a good chance they will.

In any case the risk reward is good. invest 2% of market risk to potentially gain 8%.

If it stops, c'est la vie. I would not know how to be long into those resistance. No pain, no gain.
Our resistance are somehow confluence :-)
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Time Stop: 1 week... if the market is resilient and grinds higher, it could try to reach the stop laterally without breaking out.
-1 Reply
agree it is at critical point now. Fundamentally looks like it will break out with lower gas prices that are great for margins in these small cap names which is US only and not effected by currency issues
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