IWM is ready guys small cap is moving up next month, and it’s already breaking the trend-line with H-S bounce!
IWM trade ideas
$IWM - our next ATH leaderGuys - this thing is going to absolutely shred on the next leg up. All dips here are a buy (with time because market flushes will make this drag out).
What I am seeing is a nested WXY move looking for our wave 2 bottom, and then rippy mode will be engaged. Dont be late to this parade is my recommendation. Enter on any dip and just hedge appropriately incase a rug pull occurs if we somehow default (which I highly highly doubt will happen).
Expect some strength here again this week on a 3 swing, but then we should see the rejection again sub 230. From there we will get a nice ABC ride down to find our wave 2 bottom. BUY THAT DIP IF WE SEE IT!!!
Side note: in case wave 2 bottom is already in - a break above 230 and all hands on deck because I think 235 then 240 are coming fast!
Opening (IRA): IWM November 12th 197 Short Put... for a 2.13 credit.
Comments: My Friday 16-delta short put in the broad market exchange-traded fund with the highest implied volatility.
Long IWM Bull FlagBrief for IWM:
- Bull flag to give a try.
- Rotation out of tech and into cyclicals, tailwinds due to rising yields. It should benefit Russell.
- Potential EOY rally due to seasonality, September seasonality may be behind us.
GLHF
- DPT
Russell In For Some HassallThis Weekly Chart Looks Like A Huge Distribution pattern that's about to show its downside hand. Smart money has passed off its positions and the hunt for liquidity took weeks and weeks.
$IWM bearsI wasn't even going to post this because there is a ton of IWM bear porn out there, but my count is different so why not.
What I am seeing is that even with my bear count, we will get rejected but that 214 area low will hold, and then we will go rippy mode to ATH's. If my count is correct expect this to happen quickly, likely next couple weeks, and then we will bottom week of OpEx in Oct. Then all hands on deck because we will be seeing 240+
$IWM - bull count & index ramble in descriptionYesterday made me start to favor the bull count across the indexes, WHY? because yesterday was looking like it should have been the flush and there was no follow through. It appears we are going right back into melt up mode then we will front run a flush again for OpEx. That Opex flush is going to be wave 2 across all of the indexes, not produce a new bottom, but it will likely be violent. Either way I will stay hedged with time on contracts to catch the next melt down whether it is next week or the week before OpEx.
Either way there is my index ramble.
I see IWM as bullish. I think we will fine a wave 1 top soon (could possibly even get into 230s) then violent flush for a 2, but must hold 214 low to be valid. From there ATH's here we come!
Opening (Small Account): IWM November 19th 198/204/2 x 246/249... "Double Double" Iron Condor for a 1.08 credit.
Comments: If IWM is going to give me rangebound, I'm going to play it rangebound. Here, a "double double" iron condor to accommodate call side skew. To do this, I went 6 wide on the put side, but 3 wide on the call side with the short call legs at around 1/2 the delta of the short put leg, but double the number of contracts. (Double the number of contracts on the call side, double the width of the call side spread on the put side; hence, "Double Double."). This results in a delta neutral setup with spreads on both the put and call side that are fairly equidistant from where price is current trading and wide of the range IWM has been hanging out for the past several eons. Additionally, you're not tying up additional buying power by doing things this way, since a 2 x 3 ties up the same buying power as a 1 x 6.
22.0% ROC as a functional of buying power effect at max; 11.0% at 50% max.
Opening (IRA): IWM November 5th 203 Short Put... for a 1.93 credit.
Comments: My weekly, broad market 16 delta short put in the exchange-traded fund with the highest 30-day in the contract nearest 45 days until expiry. Generally, look to take profit or roll out at 50% max.
IWM short 228.00 Same as SPY short covering. Look vol more selling than buying. Snap back
made 5% 217.19 took some off still short few shares. Lower highs
Weekly rolling over.
IWM short @ 224.50Look daily stoch heading up so it can rally up some look all the selling to buying more selling, and below the 100 day ma
Look weekly heading south look downtrend
$IWM - backfilled gap downIWM has reached and filled the gap down from Monday. Still within this range since beginning of the year. It looks like it could easily continue higher but SPY and QQQ have not filled their gaps. Would be nice to see the IWM break out from here. We are entering small cap season. GLL!!!
22-9-21 Bull TrapIm not bullish on the overall market and think this is the bulltrap. Lots of resistance here.
$IWM - Gap fillIWM backfilled that gap from several days ago. I would love to see her touch the support line again. That was a fun couple weeks last time.
9/20 IWMstill watch blue and pink lines (~210, 220)
I think small cap would have a better move among all index ETFs after the incoming dip and correction
