IWM broke out of a daily trading range last week, and climbed towards a weekly resistance zone. The yellow price zone that I marked in the chart represents a weekly structure that acted as support... now should become resistance. The 61.8 Fib level could also generate some selling pressure on IWM's price.
Both the S&P 500 and NASDAQ 100 closed at fresh record highs on Friday. The Dow ended a tad lower, pulled back by a fall in UnitedHealth which is its major constituent by weighting. Meanwhile, the broad-based, domestically-focused mid-cap index, the Russell 2000, tacked on over 1%, but remains around 15% adrift of its own record highs from back in November 2021....
IWM is currently attempting to breach a notable resistance level. If successful, it may seek support in the lower part of its range or channel before making a subsequent move to break through the resistance.
As we steam forward in this bull market, I think AMEX:IWM is getting ready for a big move. If we open Monday at ATH its blue sky breakout time. #IWM
The trade plan is broken up into parts. We have an objective and consistent entry, stop, and exit plan. Here I will be talking about the exit plan and setting targets that will give you a particular risk/reward ratio. There are no absolutes when it comes to what risk/reward you should be aiming for, a lot has to do with how you handle risk and loss and your...
... for a 1.74 credit. Comments: Back to short puts here, targeting the <16 delta strike paying around 1% of the strike price in credit. Just gradually building a position here at intervals.
I now can label the rally as ENDED in the IWM . Most are looking at this rally as a break out I am worried if this breaks from here .If it does based on the P/C models we would break and it would be UGLY .
can keep sl at 154 , we are back at June 2018 lets in this snoozefest of an index, maybe time to wake up when nothings in its favour , contra call
Awaiting for breakout of bearish trend first. be patient
The Russell 2000 trailed the S&P 500 significantly in 2023, gaining about 17% compared to a gain of about 24% for the large cap index. That underperformance has spilled over into 2024. Year-to-date, the Russell 2000 is about 2% compared to a 7% gain in the S&P 500. By the way, that valuation measures make the small cap Russell 2000 index much more compelling when...
The Russel 2000 has been in a steady range between 162 and 200 since January 2022 – more than two years now. The current situation presents some bullish signals. This is the 6th time it's touching the upper side of the range. Generally, more touches on one side of a channel increase the likelihood of a breakout in that direction. Additionally, a substantial cup...
IWM saw a very strong bounce with triple positive divergence. After a very unhealthy rally in the last couple of weeks, we have seen IWM struggle to go green on the daily. With the RSI extended like this we could tap the trend line one last time before the Fed pivots and we rally into 2024. Then Crash. IWM is a great representative of the true economy rather...
... for a 171.23 debit. Comments: Buying stock and selling the -75 call against to emulate the delta metrics of a 25 delta put. This setup gives me a slight bump in premium over selling the 25 delta put due to call IV skew, along with built-in position defense with the short call. Laddering out over time after flattening out at the end of the year. I'll...
The crossing of the 55 and 600 Day MA means a bullish change in small cap stocks. If large caps have strong earnings moving forward, I think small cap will follow and break this capitulation. From 175-190$ I will be buying for long term.
The Russel was propelled up last week by the companies within the index. Also the pattern it is forming signals that we may see the m formation play out. Or we may confirm a new trend upward of higher lows that is where TP1 is marked if we bounce there a new trendline with 3 touches is created.
Here is IWM bouncing off of the 5ema while also in the process of confirming an Daily inverse head and shoulders pattern. The inverse head and shoulders will be confirmed once price breaks 199.53 and this could give IWM a chance for continuation to $205+.