IWM looking to touch base with an old friend.

12 sept 2016

The intraday channel that has held successfully since the beginning of August is about to be retested. Because of options ex this is a risky play. However, the IWM is lagging the other indices which is what we like to see. It's risky money, these are smaller companies. The 10min 200MA (expected 123.50 tomorrow and daily 20MA) is a place to start a position in my opinion to swing this short down to 119. The hourly chart as you can see is coming into a bow-tie which I expect will pierce. Any daily chart close above 125.50, all bets are off. If 119 is reached take 1/2 off the table and try ride this down to 116.75.

19 sept 2016

Nota

This trade did not trigger. IWM is forming a base so I will have to look higher for an entry. I still believe IWM is heading lower.

22 sept 2016

Operación activa

I didn't think we would get this opportunity but here it is. For those who are not in this trade, your entry is gap fill (top blue line). Stop is a daily chart close (not a hard stop). Good Luck!

26 sept 2016

Operación activa

Technically this was a stop out due to the close above the recent high. I have however stuck with the trade due to the mid way channel of resistance that had moved higher due to timing and therefore the trade required a little more wiggle room. I am still confident this trade will play out!

24 oct 2016

Nota

IWM remains bearish. 122.75 - 123.50 is still a major area of support but it is clear that smart money is less interested in this riskier vehicle at this time. For me the IWM is like the canary down the mine shaft. If we can break the 122.75 on a daily close, we'll then look for 121.80.

1 nov 2016

Operación cerrada: objetivo alcanzado