First demand zone here. Reverse divergence in sight
Back from lunch, wait - I don't want to be Long this over the weekend ?
A comparison between June-September 2011 and today. There is good possibility that IWM drops 5 percent from today's level. Watch RSI and MACD and TLT direction carefully in the next couple of weeks.
Watching out for signs of right shoulder completion... Bulls want red support lines and 10 D MA to hold if any short term pullback.
Friends, This past June 04th, I released three forecast targets, namely: 1 - TG-1 = 115.52 - 04 JUN 14 2 - TG-2 = 117.83 - 04 JUN 14 and 3 - TG-Hi = 119.72 - 04 JUN 2014. (See recent analysis that generated these targets here: ) As of today's close (Monday, 09 JUN 2014), the first target got steam-rolled then used as a springboard (pink arrow) for further...
IWM has been rising nicely since mid May and may have some more room to run.Technical areas that need attention in coming days/weeks are highlighted.
Market cleared blue resistance lines, but now faces red resistance lines. Bulls want pink support lines to hold if any pullbacks for current level (IWM right now is bouncing up from support).
Friends, Screening $IWM through my predictive/forecasting model, the following three targets were generated: 1 - TG-1 = 115.52 - 04 JUN 2014 2 - TG-2 = 117.83 - 04 JUN 2014 and 3 - TG-Hi = 119.72 - 04 JUN 2014. PREDICTIVE ANALYSIS/FORECASTING ORIGIN: These forecast targets are defined using the same predictive/forecasting model that produced all of my...
IWM broke out today. It may be forming a rising RSI channel that may dictate trading actions in the coming days. All technicals appear to be healthy. 10 DMA is now pointing up.
Though market looks toppy, there is still a good chance it can bounce up and climb even higher. July 2007 to October 2007 period is an example. But watch the red support lines carefully.
Still goes nowhere and lags SPY. All major supports hold up well. If IWM keeps lagging SPY, maybe SPY would get dragged down eventually.
It was down today but closed at a higher low. RSI might be forming a upward slope. MACD is still positive.