I talk about IWM and SPY in this video and why I think an excellent short opportunity on IWM is coming quite soon. Good luck!
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IWM is now at resistance, see if it rejects or not....
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ok so we're getting "something" like what I expected - higher to 4600 area and then a rug pull, but I can't tell if it's done going higher or not. RSI is reset but is it enough? on 4 hr time frame it can go higher but on smaller time frames, it's enough. Difficult to tell. Back under 4570 and i'ts definitely bearish.
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1hr time frame - multiple bearish divergences.
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buyers "should" step in here
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this is looking like a false breakout as of now, let's see what happens this afternoon....
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as of now SPX is stalling at the same area other rallies have stalled.
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spx is holding, so I expect higher next week as of now. 4 hr rsi still plenty of room to go back to the highs.
