IWM, IYT may be the market leaders in case the indices reverse back to uptrend with QQQ & XLK the laggards.
It recently fell out of the year-long consolidation box 208 to 234 with a lot of whipsaw along the median line 220. It fell & stop exactly at the top of the green Megaphone. (There are 2)
Although there is still a risk of falling to the impt FIBONACCI zones. (See the 2 red boxes below), I think very soon it will reversed back into the 208-234 BOX… specially if what it formed recently was indeed a diamond reversaL
Not trading advice.
It recently fell out of the year-long consolidation box 208 to 234 with a lot of whipsaw along the median line 220. It fell & stop exactly at the top of the green Megaphone. (There are 2)
Although there is still a risk of falling to the impt FIBONACCI zones. (See the 2 red boxes below), I think very soon it will reversed back into the 208-234 BOX… specially if what it formed recently was indeed a diamond reversaL
Not trading advice.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.