Surprised to see IWM fairly restrained in this upward trend as long term interest rates dropped significantly on todays CPI report. Really expect to see a quick catchup over the next few days as SPY and QQQ make new highs.
Bearish at the end of a double bottom
Short target here is 200 gap close..
Has a final gap at 206.30 to close so thats where i will enter..
Stop loss 207.50
Target 200
There is bear flag formation for small caps 🐻🚩 AMEX:IWM
We have pointed FIB price targets for both the upside and downside.
We expect the retracement to go as between the range as low as $169 to $176
Will you be shorting?👀
The crossing of the 55 and 600 Day MA means a bullish change in small cap stocks.
If large caps have strong earnings moving forward, I think small cap will follow and break this capitulation.
From 175-190$ I will be buying for long term.
This picture indicates that if the candlestick can stand on support level 1 at the price of 205.05, it can generate profits in the upward direction, and it can take profits at resistance level 2 at the price of 211.03. Additionally, you can check the RSI indicator to confirm the trend further; if the RSI stands above the 70 line, it indicates a bullish trend.
... for a 2.33 credit.
Comments: Targeting the shortest duration <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market. (This is actually at the 18 delta, but it was either the 190 or the 185 where I wanted to pitch my tent from a delta standpoint).
Starting to slowly deploy third quarter rungs...
Showing good signs of strength at yearly pivot earlier this year. And then a recent bounce at the 200EMA. Not convinced this down leg is finished, therefore what we see here may be a bull trap.
Comments: Going ahead and rounding out Q3 rungs here with IVR at 82.7.
September 20th 160: filled for a 1.99 credit
October 18th 150: filled for a 1.61 credit
Will look to manage shorter duration rungs as I come to them ... .
We now have the right shoulder of a large head n shoulder top in IWM we could now see the next move under 191 best of trades WAVETIMER stagflation anyone !!!!
... for a 1.78 credit.
Comments: Starting to round out my Q3 rungs here on weakness and higher IV, targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market. Already have June and July rungs on, so going out to August here.
Comments: Added at strikes better than what I currently have on in weakness, targeting the <16 delta strikes in the respective expiries paying around 1% of the strike price in credit to emulate dollar cost averaging into the small cap ETF.
June 21st 182: Filled for 1.89
July 19th 180: Filled for 2.22
I also briefly looked at QQQ and SPY, but couldn't get in at...
Comments: Targeting the <16 delta strikes paying around 1% of the strike price in credit to emulate dollar cost averaging into the small caps ETF.
Adding here on weakness, better strikes than what I currently have on in those expires.
Filled the June 21st for a 1.75 credit; the July 21st 170 for 1.76.
... for a 1.87 credit.
Comments: Targeting the <16 delta strike in the shortest duration that pays around 1% of the strike price in credit to emulate dollar cost averaging into the broad market.
The ROC %-age isn't tremendously sexy here, so primarily doing this to keep theta on and burning while I work shorter duration, higher IV underlyings (e.g., SMH, XBI,...
Looking at weekly, IWM spent its history up thru 2020 in big, red box. Then it spent exactly one year in the upper box. Two years in the green box. And 2024 went back in the upper box. It's now at the bottom of the upper box.
The implication being that, although it has strayed outside the boxes for a few weeks at a time, it seems to have returned, and mostly...
AMEX:IWM hits the first support area of $192. It is the October 2023 pivot VWAP (Volume Weighted Average Price), which has provided support before. 👀 The RSI (Relative Strength Index) is close to oversold, so we could see a bounce soon.
hi Traders
IWM looks kinda bearish and we're seeing a lot of selling pressure on both on daily , weekly and monthly timeframe.
Our strategy is to play the bounce from the key support level which is shown on the chart.
If this key support level fails, most likely we will see more downside on IWM.
Entry, target and stop loss are shown on the chart.
Good luck
iShares Russell 2000 ETF seeks to track the investment results of the Russell 2000 Index, which measures the performance of the small-capitalization sector of the U.S. equity market. The fund generally invests at least 80% of its assets in the component securities of its underlying index and in investments that have economic characteristics that are substantially...
