IWM is going down and taking the SPY with it!
From what I see is utilizing the fib retracement from the 2020 low to the top of you can see great support and resistance . Ironically looks like it's going to flirt with the 0.618 fib retracement level. IWM is on it's way down and I see it filling the gaps that I circled. Along the way the SPY is mimicking the movement of IWM , so I see more downside for SPY as well. I'm waiting to deploy my money around the 155 zone for IWM . I will watch for a bottoming for SPY around that time as well. If you're able to utilize puts this could be a good idea. I'm in the TSP so that is not an option for me currently. I'm in the G fund awaiting the best time to enter. Good luck all!
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