Rollover Beethoven & Tell Tchaikovsky The News: IWM Rolling Over
In my opinion, there are almost as many negatives in the chart of IWM as there are in the U.S. race for President.
The Russell 2000 is more than 15% off its highs, and, to (kind of) quote Chuck Berry, "Roll Over Beethoven & Tell Tchaikovsky The News".
Here is the news (Don's Top Ten Technicals):
1. The Ichimoku Cloud is SINKING, with lower prices now (than structure to the left). 2. Prices are beginning another ROLLOVER, BEETHOVEN. 3. Prices are falling BELOW the thick red Ichimoku Cloud Conversion line. 4. The thick red conversion line is moving LOWER. 5. The thick black line is the Ki-Jun-Sen baseline of the Ichimoku Cloud and this is beginning to ROLLOVER, BEETHOVEN. 6. The indicator on the top of the page is RSI / Stochastic , and this is FAILING. 7. The top-side middle indicator is vortex and this is NEGATIVE (red over green). 8. The Top (bar-type) indicator measures the "phase energy", and this is beginning to ROLLOVER, BEETHOVEN, and send Tchaikovsky the NEWS of a negative zero line cross-over. This suggests the selling has quite a bit more to go. 9. The red fractal arrows (not pictured) are DOWN.
10. Look to the far lower right on the chart, around $112.00. You will notice a yellowish line on the bottom (jaws), with black dots above (teeth), and a blue line (jaw) above the black dots. Now, all three are CLOSED, correct? This is where I ask you to use your imagination and envision these three items as the "jaws, lips, and teeth of a SLEEPING alligator, and the alligator will most likely feed into the DOWN-TREND as the IWM does a ROLLOVER, BEETHOVEN.
I feel the decline in IWM will match the "blues energy" from verse two of Chuck Berry's "Roll Over, Beethoven".....
"You know, my temperature's rising, And the jukebox (IWM) blows a fuse, My heart's beating rhythm, And my soul keeps singing the blues......
Roll over Beethoven - And tell Tchaikovsky the news".
Save yourself some heartache, prepare for a ROLLOVER in the Russell 2000, even if your name is not Tchaikovsky !
I sincerely hope my contributions are helpful, entertaining, and save you money. May all of your trades go well. Don.
The Russell 2000 is more than 15% off its highs, and, to (kind of) quote Chuck Berry, "Roll Over Beethoven & Tell Tchaikovsky The News".
Here is the news (Don's Top Ten Technicals):
1. The Ichimoku Cloud is SINKING, with lower prices now (than structure to the left). 2. Prices are beginning another ROLLOVER, BEETHOVEN. 3. Prices are falling BELOW the thick red Ichimoku Cloud Conversion line. 4. The thick red conversion line is moving LOWER. 5. The thick black line is the Ki-Jun-Sen baseline of the Ichimoku Cloud and this is beginning to ROLLOVER, BEETHOVEN. 6. The indicator on the top of the page is RSI / Stochastic , and this is FAILING. 7. The top-side middle indicator is vortex and this is NEGATIVE (red over green). 8. The Top (bar-type) indicator measures the "phase energy", and this is beginning to ROLLOVER, BEETHOVEN, and send Tchaikovsky the NEWS of a negative zero line cross-over. This suggests the selling has quite a bit more to go. 9. The red fractal arrows (not pictured) are DOWN.
10. Look to the far lower right on the chart, around $112.00. You will notice a yellowish line on the bottom (jaws), with black dots above (teeth), and a blue line (jaw) above the black dots. Now, all three are CLOSED, correct? This is where I ask you to use your imagination and envision these three items as the "jaws, lips, and teeth of a SLEEPING alligator, and the alligator will most likely feed into the DOWN-TREND as the IWM does a ROLLOVER, BEETHOVEN.
I feel the decline in IWM will match the "blues energy" from verse two of Chuck Berry's "Roll Over, Beethoven".....
"You know, my temperature's rising, And the jukebox (IWM) blows a fuse, My heart's beating rhythm, And my soul keeps singing the blues......
Roll over Beethoven - And tell Tchaikovsky the news".
Save yourself some heartache, prepare for a ROLLOVER in the Russell 2000, even if your name is not Tchaikovsky !
I sincerely hope my contributions are helpful, entertaining, and save you money. May all of your trades go well. Don.