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IWM trade ideas

Indexes Weekly Review 2/28/2022Last week ended with a lack of conviction from all the indexes. SPY, QQQ, and IWM failed to close above their resistance line or the low set on the week of Jan 24. Looking at the intra week action, we see that none of the indexes could last a day over their resistance line. IWM found resistance at the 2% filter off the channel and 40 day EMA. SPY found resistance at the 20 and 200 days EMA. QQQ found resistance at the 20 days EMA. Looking at the week ahead, we will get greater clarity if the downtrend will continue, preferably by recording a close below the low of the week of Jan 24th. There also could be a sign of a downtrend reversal by all three indexes closing multiple days above their resistance EMAs and resistance line.
AMEX:IWM
by Ronald_Ryninger
$IWM Key Levels, Analysis & Targets$IWM Key Levels, Analysis & Targets My targets for the next swing. Target 1- 184.57 Target 2 - 159.26 Support around 142 (not labeled today) Let’s see what the IV is at the time when it hits to determine sell targets. GL & happy swinging… ----- — On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is from my average. ONLY ADD at support levels & FIB levels… labeled (most of the time) (Support=Green, Resistance=Red, Trendlines=Blue) Fib will be labeled if any and their colors will vary.) I start every position with .5 - 1% of my account and build from there as needed and as possible. I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed. GL and happy trading. IF you need anything analyzed Technically just comment with the Ticker and I’ll do it as soon as possible…
AMEX:IWMShort
by SPYder_QQQueen_Trading
5
IWM - Looks like small caps might be in for a bit more hurtThe daily chart from the Covid crash to the peak of the Covid recovery paints a picture of the Russell 2000 that is eerily similar to a textbook sketch of Wyckoff's distribution theory. For the bulk of 2021 IWM respected a very clear support line that has been crashed through in 2022. Recent price action shows that old support being tested as a new resistance and buyers attempting to push prices through that level were flatly rejected. Furthermore, volume began spiking on drops in price below the 200 day moving average and any movement above it recently was met with anemic volume. This is not the excitement that we've been accustomed to in the small caps of 2020. The game has changed. With 1/3 of the Russell (at least) being non-revenue producing speculative companies that were exponentially over-valued during the 2020 bull run, it's hard to imagine that the grounding of the Russell isn't real and that it isn't coming. In today's market, giants like TSLA, AAPL, and MSFT are being dragged down to fundamental value. The small caps aren't immune, unfortunately. What's even worse is that a correction to AAPL's charts isn't as ghastly as some small caps that are trading at tens or hundreds of millions above their quarterly earnings. The Russell is an important index to watch if one is interested in small cap boomers. It serves as not only a tradable ETF but as a thermometer for the sentiment toward speculation. Right now, it appears that bullish sentiment and risk taking is waning and bearish sentiment is growing. This could lead to a gut wrenching performance for small caps going forward into 2022 and larger drops in former penny stocks that retail investors drove to epic heights in 2020 and early 2021. Many of these companies are still heavily overvalued after 50%+ drops in share prices. I'd expect volatility in the coming months as tax returns are pumped into these old favorites with the rallying cries of "buy the dip" and "moon next PR" on the breath of most novice investors and traders, especially those who are holding bags likely exponentially higher than current share prices. Once that surge of small money ends I would think that an abysmal summer is approaching for many of these strongholds. Most of the companies have made lofty promises and many of them have targeted this summer for validation of their business models and strategies. But in the face of generationally high inflation, wars, rate hikes, and supply chain disruptions along with a pandemic that is cyclically impacting humanity, will it matter? If Mr. Russell is any indication of what is to come, that answer is likely no. Spiking prices will likely be met with hard sell-offs and shorts that start to feel the squeeze will get a layer of protection from the trapped bulls just looking to get their money back out of the markets. It's not the best of news, but it shouldn't be considering that we aren't in the best of economic situations currently. Of course this is the markets and the markets have a mind of their own. It's wise not to get too caught up in bias and predictions to the point where you are unable to react appropriately and according to your plans. Good luck out there and God bless!!
AMEX:IWM
by TradingTacticsPro
$IWM — Potential H&S forming on the 1hr We can either go lower to fill that open gap right off the bat... or We're going to go a bit higher to form the second shoulder, creating the H&S with a downside target of $193... Either way, that gap is filling — not sure if it will today, but likely for next week and for certain before March's 3rd Friday. The StochasticSlow is looking overbought, and the CCI is hinging lower just under that momentum line — bad sign for the bulls, if you ask me.
AMEX:IWMShort
by OptionsAddicts
1
IWM; Bounced from MEGAPHONE top… & is that a DIAMOND?IWM, IYT may be the market leaders in case the indices reverse back to uptrend with QQQ & XLK the laggards. It recently fell out of the year-long consolidation box 208 to 234 with a lot of whipsaw along the median line 220. It fell & stop exactly at the top of the green Megaphone. (There are 2) Although there is still a risk of falling to the impt FIBONACCI zones. (See the 2 red boxes below), I think very soon it will reversed back into the 208-234 BOX… specially if what it formed recently was indeed a diamond reversaL Not trading advice.
AMEX:IWMLong
by xtremerider8
Wyckoff Distribution + InflationThe IWM has completed It's classic Wyckoff Distribution and we are now at Phase E. The target is 170-169 where we have found support. This is a warning for the entire Stock Market to abandon ship while you still can. The IVM is the Titanic and has hit the ICEBERG. We don't have enough boats to save everyone. People will be left on the ship stuck at all time highs holding the bags. "The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists." Ernest Hemingway This post is not Financial Advise.
AMEX:IWMShort
by nerdrx
IWM is going down and taking the SPY with it!From what I see is utilizing the fib retracement from the 2020 low to the top of you can see great support and resistance . Ironically looks like it's going to flirt with the 0.618 fib retracement level. IWM is on it's way down and I see it filling the gaps that I circled. Along the way the SPY is mimicking the movement of IWM , so I see more downside for SPY as well. I'm waiting to deploy my money around the 155 zone for IWM . I will watch for a bottoming for SPY around that time as well. If you're able to utilize puts this could be a good idea. I'm in the TSP so that is not an option for me currently. I'm in the G fund awaiting the best time to enter. Good luck all!
AMEX:IWMShort
by Fibonacci-618
Russell 2000 (IWM) Head and Shoulders Suggests More DownsideA head-and-shoulders (H+S) pattern in the IWM suggests more downside. A while back I posted about the downward breakout from a nearly 12 month trading range in IWM. At the time, I had not seen the H+S pattern that had formed. The breakout (violation of the neckline) in the H+S pattern occurred several days after the downward breakout of the trend channel. @CMT_Association posted recently with excellent Fibonacci and P&F analysis providing credible targets / objectives to the downside. His post also pointed out IWM's relative strength versus SPX. IWM has been relatively the weakest major index in the US the past year. To add support to the downside targets discussed by @CMT_Association, I would note that one measuring objective for a H+S pattern is to calculate the maximum depth from the head of the H+S pattern to the neckline and project that distance from the breakout point. This method yields a target of approximately 174-175 in the IWM (ETF tracking Russell 2000). This 174-175 target based on the H+S pattern, interestingly, lies between the two Fibonacci retracements discussed by Stewart in his recent insightful post, which were 169.52 (.50) and 186.90 (.382).
AMEX:IWM
by SquishTrade