IWM correction far from over. Expect a relief bounce tomorrow before we head 10-20% lower. Too many garbage stocks with trash PEs have pumped in 2024 based on pure euphoria and market has finally realized they need to sell those off.
VIXSPYQQQIWM The bounce will be temporary. The VIX Daily, Weekly, and Monthly are all positive on the MACD. Sell the Bull Trap, and watch the Daily Head and Shoulders on NVDA. That would take NVDA down to 80/share. With the APRIL 2 reciprocal Tariffs expect more extreme fear, but going into late April/May the Market will recover. I love tariffs, but it will take time to be congested as it was for the Chinese Tariffs under 45' Trump which still exist today. So many companies are bringing Trillions back to the USA now and Manufacturing here again like APPLE 500 billion. Every large company will bring jobs to America in this change. Tariffs in the long term don't effect Inflation. We are in a HUGE debt deficit with every country because of Stupid Democrat Politics Of a GLOBAL ECONOMY PAID for by the USA!! They Tariff us and Tax us to Hell and that does not effect their inflation...Ever think about that??? Government over spending affects inflation IE. Biden Climate Inflation Reduction act of 2 trillion after Covid...LOL :[. Those are just economic facts! Many foreign companies avoid Tariffs by investing huge in the USA like SOFI 200 billion, Taiwan Semiconductor 100 billion, Saudi Arabia 1 Trillion, and others. Eventually the Fed Tax will be eliminated and we will have the External Federal Tax as it was before 1916. TRUMP USA!!!
- Today's key support and resistance levels for IWM are crucial for potential trading decisions. - These levels are calculated using mathematical models and are relevant for today's trading session only.
If you find this information helpful and would like to receive these insights every morning at 9:30 AM, please support me by boosting this post and following me. Your engagement helps me understand the value of this content. If this post does not receive more than 10 boosts, I will reconsider continuing with these daily updates. Thank you for your support!
IWM pretty sturdy support around $215 going back a long ways. Could continue to sell off, but also a reasonable area to dig in. Will be interesting to see if it can outperform QQQ in the next leg if that's the case.
QQQ anyone need any education on strangle strategy hit me up. From my support and resistant lines, there is a perfect area to get in and out from strangle option strategy. NVDASPYIWM