IWM: looks like 5 down for intermediate a

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IWM update 07112014

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12 thoughts on “IWM: looks like 5 down for intermediate a

    • KK, probably retesting 118 +/- 1 or 2. I think it peaked Longer Term recently. We have had now an nice abc down, where a was 5-waves, b was 3 waves, and c 3-waves. This could have been intermediate a, now in b.

  1. Here’s a situation. SPX look like forming a triangle from 1945,1985,1952,1982 and final E is on the way now.

    When it breaks out, it’d reach either 1985 or more. If that’s the case,would RUT follow up and test gap @ 1180 level?

    Thx

    • IWM making new highs!? I don’t see that. It’s trending down, and yesterday may have been all for b-wave up… technicals looking weak and bleak and want to see lower lows!

  2. Hi soul, I have idea , some one like trade stock & Etf , when ever you buy stock or Etf you email
    If stock or Etf if they win , should donation a least $20.00
    That good idea soul
    Ps: if you trade qqq, IWM that better ,
    Thank you

  3. Thx. That was pretty quick response. Are you keeping OPEX in mind and hence 118 target?

    My guess is “a” Wave is not done yet and 118 bounce after 112 level

    Thx

    • no I don’t think about OPEX, earnings, or whatever, I only look at price. Price says it all, news=noise 9 out of 10 times and if you read the chart correctly news is thus already baked into it.This is because price is driven by sentiment, if you’ve discovered a bullish price pattern (up), news will be interpreted bullish. and if price is in a bearish price pattern (down) then vice versa. so why then listen to news!? only confusing imho.

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