I believe IWM is setting up for the completion of a long top which is rolling over. I believe IWM will fall to about $95 before moving on to higher highs.
For those of you who chart XLF, please be aware that XLF and IWM move in tandem. If you are charting one then you are charting both.
Both are lagging, both have had technical bounces, and both need to participate in the "stock" market if we are to have a meaningful move higher.
The above chart is of XLF, but the thick bright green line is IWM. As you can see, these two issues move together.
I hope this has been helpful and informative. May all of your trades go well. Don.
For those of you who chart XLF, please be aware that XLF and IWM move in tandem. If you are charting one then you are charting both.
Both are lagging, both have had technical bounces, and both need to participate in the "stock" market if we are to have a meaningful move higher.
The above chart is of XLF, but the thick bright green line is IWM. As you can see, these two issues move together.
I hope this has been helpful and informative. May all of your trades go well. Don.