I think AT BEST, IWM manages one last marginal new high, which would be another divergent high, before heading down to these two near-term targets (green) although I wouldn’t be at all surprised to see IWM move lower from here. Either way, a break below the 128.35ish support is likely to be the catalyst for a move down to either or both of those targets, about a 3% & 5% drop from current levels.
IWM 15-minute Nov 16th
Note: These are unofficial price targets for a quick pullback trade for anyone that agrees with this analysis & might want to position for a quick pullback trade. The price targets & suggested stop for the official IWM short swing trade remain as previous stated (listed on the updated chart below).
IWM daily Nov 16th
@morrienelson