IWM about to make a critical desision.
Technically IWM is at a critical juncture. It pivoted, flagged for a few days and tried to continue. It did show relative strength yesterday but on the daily it did not close back above the trendline from the ascending wedge it broke out of a week or two ago. On the daily for RTY it bounced off a separate top of trend line and also closed inside the ascending triangle. On monday it'll be a jump ball to see if the bulls or bears get possession to close back up outside of the ascending triangle or further reverse downwards. Fibs are roughly where i had support and resistance plotted. First resistance is $162 area.
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