Break and restest of channelBreak was on higher than average daily volume. If retest is successful and we don't fall back into the channel resistance should turn into support. Monday will tell. Flat for the weekend. Next target $169.
Iwmshort
IWM continues to HOLD supportIWM is within a 2 year channel with distinct points.
Lower end (red arrows) around $144-$145
Upper end (black arrows) around $160
Highlighted areas are times in which we breached those areas.
Yesterday the IWM traded down as low as $144.25, buyers stepped in to drive the ETF up.
Buyers have stepped into and bought around that area for the past 2 years.
Solid support.
Resistance of $160 is just as solid.
IWM rising sectionwww.pretiming.com
Stock investing strategies
Investing position about Supply-Demand(S&D) strength: Strong buy as Rising section of high profit & low risk
Supply-Demand(S&D) strength linkage Trend Analysis: In the midst of an adjustment trend of downward direction box pattern stock price flow marked by limited rises and downward fluctuations.
Today's Supply-Demand(S&D) strength Flow: Supply-Demand strength has changed from a strong buying flow to a suddenly strengthening selling flow.
D+1 Candlestick Color forecast: RED Candlestick
%D+1 Range forecast: 0.1% (HIGH) ~ -0.8% (LOW), -0.3%(CLOSE)
%AVG in case of rising: 1.0% (HIGH) ~ -0.3% (LOW), 0.8% (CLOSE)
%AVG in case of falling: 0.3% (HIGH) ~ -1.0% (LOW), -0.5%(CLOSE)
Stock Price Forecast Timing Criteria: Stock price forecast timing is analyzed based on pretiming algorithm of Supply-Demand(S&D) strength.
IWM Short Setup Tuesday, Test $138.58 Support IWM has hit long term resistance at $144 and bounced down off it. This looks to be setting the stage for a reversal, at least in the short term, Tuesday. Be careful out there, as the markets have been trading sideways for a week now.
SPY Weekly 30 Years overall Look #BigPicture #MeasuredmoveThis is a carefully crafted study! I have demonstrated the angles that we will likely see in the future based on what we have seen in the past. Details in the chart... Hope to get 1K views on this
IWM- Long term correction.Looks like there is alot of bullish divergence for the rsi and macd. This means it should go up some ways then correct to around the 135 price range.
IWM/R2K has been relatively weak compared to the Naz. Short?With confirmation, we will be entering this short with defined risk and target as shown on the chart. It has traded relatively weak compared to the other major markets.
