A similar setup exist in most indexes, but is the juice there to manage what I have proposed??? Maybe they do.
The big gap up, then last week they just kept clawing their way back to positive close, with bad news/reports all around.
Impressive action. I don't mind trading it, but I'm not "buying" it. For me, the Fat Lady has yet to sing.
The negative divergences are building and will play out, as they always do. It's a question of how far can they be streched/postponed. Fed action.
http://stockcharts.c...4029&r=2551.png
A possible scenario for the ST
Started by
ronkw
, Apr 26 2008 05:22 PM
2 replies to this topic
#2
A-ha
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Posted 26 April 2008 - 05:33 PM
excellent observation, not only iwm but many sectors are set to breakout despite the wall of worry
#3
underabigw
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- Traders-Talk User
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Posted 26 April 2008 - 07:36 PM
Atilla,
I'm confused. You showed a weekly of the Russell 2000 up against resistance which I thought you were thinking was going to go down? In this post, you mention a breakout for IWM as well as other sectors? Please clarify.
Thanks,
UBW
I'm confused. You showed a weekly of the Russell 2000 up against resistance which I thought you were thinking was going to go down? In this post, you mention a breakout for IWM as well as other sectors? Please clarify.
Thanks,
UBW
excellent observation, not only iwm but many sectors are set to breakout despite the wall of worry
