As long as IWM is on or below the primary downtrend line and/or the 200-day MAs (currently testing the 200-ema from below today for 5th day in the past several weeks with the 200-sma still a bit higher), then it is an objective short IMO. Popped above the downtrend line on an intraday basis today so best to wait for it to fall back below in order to short, IMO, but sure, one can make a case to short this minor intraday pop above it as IWM has had multiple rejections off the 200-ema from below in recent weeks & is currently testing it again today.

Yeah, so did I & everyone else.. lol. They seems to be bucking that trend lately although if you take a step back & view things from the bigger picture, IWM topped all the way back in 2021 (and put in a second, equal double top again & late ’24) and is still down 15% from that massive double top and also below its 200-day moving averages (testing the 200-ema today & still well below the 200-sma).