IWM HS forming or follow down trend channel for the summer?

22 3 1
IWM             forming HS? If yes, it is a very sloppy trend toward the right neckline, if it is that. Could simply be the downtrend channel for the summer.
also, I think the Friday pop was artificial before the holiday weekend.
Yes, for a true HS. That is why I am "searching for a handle on this thing". And maybe I am making it too complicated. It is too sloppy for my taste. So I think as I watch the action this week, I will conclude this is a - hit the top rend line of this channel and descend to 108.61, which is what I call candle resistance, or 107.21, which would be the low you are referring to and the doji on feb 5th or shy of that and the doji resistance of feb 15th. And if, big if, it does descend to the bottom of that descending channel, well, by then SPY and the rest of the market will be dragged down with it, and that will be the big news we've been all waiting for. No way IWM descends below 107.21 without some major damage elsewhere, and maybe elsewhere will be that catalyst, with IWM following.
Interesting, I came to the 116 target by an entirely different means, using elliott wave analysis. Maybe there's something to this, but when I applied the H&S, the neckline was slanted upward, as the left shoulder really should be anchored at the 107 low, should it not?
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out