the_sunship

IWM will rally while the rest of the market rests

Long
EIGHTCAP:SPX500   S&P 500 Index
A rotation into IWM has begun, target is 190-193 and probably in quick measure.

Good luck!
Comment:
good morning, on SPX if it's a consolidation we should get a pullback here, if not they will go past 4300 today
Comment:
2hr rsi quite low again, I expect a move up overnight or tomorrow.
Comment:
good morning. SPX still choppy, I expect something like this after the numbers come in. RSI needs to be reset on the smaller time frames.
Comment:
if they decide to sell it this morning I don't think it would last.
Comment:
top of the channel, getting above the last high would be bullish, otherwise we could pullback again.
Comment:
with spx 4hr time frame - IF we get a higher high we will have triple bear divergences on the 4 hr, usually would mean a false breakout
Comment:
SPX rsi can move up a bit more, I expect a run up to 4310-20 at open then reversal.
Comment:
daily and weekly BB on SPX is 4315 and 4325, so I expect that area (or close) to be the target
Comment:
stops probably hit here, but I think it goes a bit higher. I still expect reversal sometime today will update if it looks wrong.
Comment:
MID time frame rsi's now nicely reset. We could hit 4330-40 if this structure is correct. Regardless, I believe a reversal will happen sometime today
Comment:
looks like a reversal, but i wouldn't be shocked at one more high to create more bearish divergence on the rsi. 2 paths as of now.
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