IWM Outlook
TECHNICALLY: A convincing break above the 0.50 fib retracement level at ~221 may signal further upside. Alternatively, I think we may retest 207.
ZOOM OUT: IWM has been powered recently by huge moves in "meme stonks" which I see as simply unsustainable. When the "buy the dip" mentality breaks down I think we'll see major retail capitulation.
MY MOVES: While IWM is below 221, I'm short.
DISCLAIMER: I'm not a financial advisor, do your own research, this ain't trading advice - just some ideas.
ZOOM OUT: IWM has been powered recently by huge moves in "meme stonks" which I see as simply unsustainable. When the "buy the dip" mentality breaks down I think we'll see major retail capitulation.
MY MOVES: While IWM is below 221, I'm short.
DISCLAIMER: I'm not a financial advisor, do your own research, this ain't trading advice - just some ideas.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.