Posted by: rp on the 23rd of Dec 2011 at 01:22 pm
Title: IWM update
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IWM targets remain. although yesterday’s short could prove to be a bust, look how well IWM has skated along that trendline.
here’s what i said yesterday morning and the chart below shows that the latter forecast has so far played out (underperformance: IWM is flat since that post while SPY and QQQ are up about 1%):
Posted by: rp on the 22nd of Dec 2011 at 10:23 am
IWM 60 min is testing the top of it’s triangle. while SPX and QQQ has some more upside before they hit the top of their triangles, IWM has negative divergence on the 5 min chart and is quite stretched. therefore, i’d say the odds favor a pullback or at least some underperformance in IWM from here.
