$IWM Analysis, Key Levels & Targets for 10.29.24

So we got above that mess of resistance - that is impressive for sure. And the 35EMA is still underneath the 30min 200MA - so believe it of not we are bearish here until that crosses. And it looks like with a down gap at open this could be a level of rejection here today.

This does look very bear flaggy to me - though yesterdays price action really tried to keep it out of forming one but today may prove be the followthrough for that. If that’s the case then the 50DMA would be a good target - though it’s not in today or tomorrow’s trading range - definitely could be by the end of the week.

Note

$IWM Analysis, Key Levels & Targets for 10.29.24

Note

Here’s IWM with the up gap that would have been there - making 220 219 bull put spreads attractive, at least on the day.

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