$IWM Tomorrow’s Implied Move for PPIAMEX:IWM Tomorrow’s Implied Move for PPI
Alright, IWM. We had the bearish cross down in the first week of Oct and since then we’ve seen the 30min 200MA as resistance as we make our way back to the 50DMA.
Implied move for tomorrow is 214 - 219, 35EMA is above us and so is the 1hr 200MA and they both acted as resistance today. If we get above that duo then the next target is the 30min 200MA which has been a clear resistance since we crossed down. If we do get to that level I would be looking at 220/221 or 221/222.
And then if it holds as resistance then look to the 50Day Moving average. The momentum there is pulling us down. 214 is sitting right on the 200DMA and if we get down there I would be looking to sell 213/212 bull put spreads since the DMA acted as support today for a technical bounce.
— Storm update: I’m so good, but I don’t have power so I can’t make videos until that’s fixed. Until then I’ll be posting charts here when I can. 🙌🏼