mak337

mak337 Updated 

$IWM testing its upper channel resistance for the fifth consecutive day. Printed an inside candle today after another failed breakout. Meanwhile, this EW count has a B wave topping out at channel resistance and ready to break lower to complete its 5 wave impulse up from March. This count is definitely not confirmed - just a possibility. But I still like $IWM to...

mak337

I'm a novice EW counter, but this chart looks to me ready for a significant C leg down to complete it's first wave after GFC. Not sure about timing, only that it's due.

mak337

IWM looks to be teetering: - gap up out of well defined channel - significant negative divergence in RSI - economic realities don't appear to justify small cap out performance There is obviously still a lot of liquidity in the markets, but small caps seem like a bad hiding place to me.