IWM is looking vulnerable, printing a red day Friday while its peers $ES_F, 
SPX, and 
SPY closed strong. RSI may be stuck at the top of a downward sloping channel, and it's sitting at the top of a chop/consolidation zone. A failure to breakout here will likely result in a short-term correction.
Should this happen, it's likely a hint of what's to come for the remaining indices. An extended move down could signal a rally reversal.
SPX, and SPY closed strong. RSI may be stuck at the top of a downward sloping channel, and it's sitting at the top of a chop/consolidation zone. A failure to breakout here will likely result in a short-term correction. Should this happen, it's likely a hint of what's to come for the remaining indices. An extended move down could signal a rally reversal.
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.