We now have the right shoulder of a large head n shoulder top in IWM we could now see the next move under 191 best of trades WAVETIMER stagflation anyone !!!!
Looking at weekly, IWM spent its history up thru 2020 in big, red box. Then it spent exactly one year in the upper box. Two years in the green box. And 2024 went back in the upper box. It's now at the bottom of the upper box.
The implication being that, although it has strayed outside the boxes for a few weeks at a time, it seems to have returned, and mostly...
Comments: Going ahead and rounding out Q3 rungs here with IVR at 82.7.
September 20th 160: filled for a 1.99 credit
October 18th 150: filled for a 1.61 credit
Will look to manage shorter duration rungs as I come to them ... .
... for a 1.78 credit.
Comments: Starting to round out my Q3 rungs here on weakness and higher IV, targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market. Already have June and July rungs on, so going out to August here.
Comments: Added at strikes better than what I currently have on in weakness, targeting the <16 delta strikes in the respective expiries paying around 1% of the strike price in credit to emulate dollar cost averaging into the small cap ETF.
June 21st 182: Filled for 1.89
July 19th 180: Filled for 2.22
I also briefly looked at QQQ and SPY, but couldn't get in at...
Showing good signs of strength at yearly pivot earlier this year. And then a recent bounce at the 200EMA. Not convinced this down leg is finished, therefore what we see here may be a bull trap.
Comments: Targeting the <16 delta strikes paying around 1% of the strike price in credit to emulate dollar cost averaging into the small caps ETF.
Adding here on weakness, better strikes than what I currently have on in those expires.
Filled the June 21st for a 1.75 credit; the July 21st 170 for 1.76.
... for a 1.87 credit.
Comments: Targeting the <16 delta strike in the shortest duration that pays around 1% of the strike price in credit to emulate dollar cost averaging into the broad market.
The ROC %-age isn't tremendously sexy here, so primarily doing this to keep theta on and burning while I work shorter duration, higher IV underlyings (e.g., SMH, XBI,...
AMEX:IWM hits the first support area of $192. It is the October 2023 pivot VWAP (Volume Weighted Average Price), which has provided support before. 👀 The RSI (Relative Strength Index) is close to oversold, so we could see a bounce soon.
hi Traders
IWM looks kinda bearish and we're seeing a lot of selling pressure on both on daily , weekly and monthly timeframe.
Our strategy is to play the bounce from the key support level which is shown on the chart.
If this key support level fails, most likely we will see more downside on IWM.
Entry, target and stop loss are shown on the chart.
Good luck
iShares Russell 2000 ETF seeks to track the investment results of the Russell 2000 Index, which measures the performance of the small-capitalization sector of the U.S. equity market. The fund generally invests at least 80% of its assets in the component securities of its underlying index and in investments that have economic characteristics that are substantially...
In 26th dec, there was a high probability weakness in IWM based on this graph.
Top of BB's and impulse has no potential, yet important resistance/break out.
//rising TNX is bad for cyclicals or small caps.
IWM is currently in a strong accumulation area based on the volume profile delta. The indexes were a bit oversold after yesterday's CPI report and FOMC minutes, leading to a bounce in the afternoon. I am skeptical as to whether today's PPI report and fed speakers will have the same effect so I closed my puts. Here is my reasoning:
VIX keeps rejecting above...
Price is landing on an important support zone, weekly support. I'm buying calls as shown. I think the double bottom pattern still active, and this is just a test of the broken resistance at 200.
What we know? Oil is likely bullish in 2nd Half (24'). BTC leads the small caps. TNX usually works as a head wind (and has took a pause). Rate cuts are very bullish for small caps and financials benefit in this environment?
technically; the 20dma works as a driver. 50dma and 200dma just gives you context. You can add MACD to confirm things.
Im speculating that...
Credit to Mr. Tom Lee for this one. Small caps are at a multi-decade low in value relative to the S&P. The Fed beginning to cut will be the catalyst for a huge move in the Russell over the next 12-18 months
