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IWM

TZA Long, IWM Short due to weakness in XLF & SPY- Very notable drop in the last 3 days for all sectors. Most important factor to remember is always following the trend and dont try to fight against it. Even though today there was a lot of opportunity in both direction it was quite a choppy day. - I mentioned yesterday any pop bullish on premarket data will be a good short for all sectors and i will be getting in too. - Took a decent 6100 shares position in TZA which is leverage 3x ETF for IWM short. - SPY and QQQ now below 200 daily MA. - Very oversold on multiple time frames would like to play a bounce Monday when we have all time frames oversold at a same time, ideally a gap down Monday for a bonuce play. - All trends still favor the bears expect we are still in a weekly uptrend, SPY approaching that weekly support very soon.
AMEX:SPYShort
by ArcadiaTrading
The Russell Riddle: which chart is 2008? ($IWM W) For the answer, scroll down to the comment section. Two charts of $IWM weekly TF. One chart is current (as of 2/4/2023). The other is 2008 ,up to 4 candles before the 50% drop. Which one crashed 50%? The conundrum: why do we assess current price action as bullish, when a similar pattern resulted in the GFC in 2008? There are many possible answers, none of them wrong. The one that interests me is the possibility that our bias is more extreme when we have experienced (traded) the price history. In this case it means experiencing the climb from the October 2022 lows. The alternative is basing our bias on the price history in a chart but *without* experiencing the returns themselves. For example IWM's similar price action in 2008. Any difference in sentiment would be consistent with studies showing that decisions made from experience often diverge from those based on description.
AMEX:IWM
by gb50k
10
#IWM Russel 2000 looking technically bullishSome real meaningful progression for the bull case in US small cap stocks. 50 dma > 200dma Price has cleared the critical resistance level between 187-188. Price has some short term resistance at the 38.2% fib retracement here, but it looks like we should progress to the next resistance level at the 50% fib retracement at 200. Chart is showing a clear formation of higher swing lows and higher highs. Hard to be bearish this chart. Opportunity here to buy the breakout with a relatively small stop as a close below 187.50 might put the bullish case on hold.
AMEX:IWMLong
by MarcoOlevano