As we head into the final full trading day of the week (the US stock market is closed tomorrow with an abbreviated 1 pm close on Friday), here are a few of the charts that I’m watching. SPY continues to chop around near the top of the multi-month trading range…
+3
Arrow breaks are potential downside targets for /RTY and/or /M2K (small-cap futures) should IWM trigger a sell signal via a solid break below the 60m bearish rising wedge pattern highlighted in this morning’s post (above).
Seems like many of those small caps trades we entered may be dragged down with IWM.
Just looked at the VIX 1 hr chart.. seems to be over sold plus divergence. Can you please confirm thank you
thanks for the iwm update randy
Looks like IWM broke through the trend line but only going sideways not really down much at all. Is this still a sell signal?
$DSS is interesting. Spike on earnings announcement (oct 26) then fade. It’s been walking higher after the dust settled. Maybe it can pop that $6 resistance. Volume is low though.