IWM (small cap ETF) is at a decent support level while quite oversold in the near-term. As such, the odds for a bounce off this initial tag of support from above are elevated at this time. Although IWM is only an unofficial trade idea, I just covered my entire short position as to reduce my overall net short exposure for the time being (and might re-enter on a bounce, should I see an objective re-entry opp). Previous & updated daily charts (note how IWM had one major bounce since the breakdown, right where forecasted):
IWM Small Caps at Support
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