From the completion of the late January to mid-March A-B-C correction until present IWM
seems to be in a classic impulsive 5 wave bullish
formation with the fifth and final wave already in progress. If we operate on the standard premise that the fifth wave will most likely be equal to length to the first (displayed by two vertical rectangular shaded boxes) then that would imply a target for completion of the fifth wave of roughly 173. Probability wise a Wave 5 is 70% likely to extend to the 61.8 - 100% of the trend based Fibonacci extension
on the chart- this implies a value of 173.65 - 180. One way or the another IWM
seems like a great play over the next two months, just watch closely once we pass the 170 mark. Good luck.