claydoctor

IWM - MFI, MACD and RSI comparision at major trend support

Short
AMEX:IWM   iShares Russell 2000 ETF
1
IWM... comparing indiactors... off of each high, in this current pattern, on the descent, when we broke the long term trend support lines, we bear flagged along that trend line, and then failed to the neckline. The money flow indicated we would break to the upside, but "NO YOU DINT". Just saying, we are at that moment again, and if history repeats... we should descend once again to the neckline from here, or another pole and another bear flag, as indicated in a previously posted chart on bear flags and IWM. AND.. if you zoom out, and include the summer 2011 in this chart, we see the same thing happen at its high, long term trend breaks, bear flags, and MFI increases, just to have them break down also. There are so many things that are head faking this market, and down days expected THAT JUST DEFY ALL ODDS AND FINISH HIGHER. Very anxious to see how we do this week, and whether this current bear flag we are in breaks down another pole, or up (hope not, that would not be good for me) So bias declared, I am short this market, so take all this with that grain of bias salt. happy trading. all comments welcome.
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