IWM broke support at 81 today and needs to dig in here at 80 and get back above 81 somehow if it wants to hold things together.
During Feb. the SOX formed a head and shoulders pattern with the neckline around 420 which also seems to be important support looking back to 2010. It needs to hold the line here.
The USD got stopped at some resistance here around 79.49, however the RSI and MACD are looking bullish.
Next week should be interesting.
Best of trading,
Tom
http://stockcharts.com/c-sc/sc?s=IWM&p=D&yr=1&mn=5&dy=0&i=t07645644155&r=769.pnghttp://stockcharts.com/c-sc/sc?s=$SOX&p=D&yr=1&mn=5&dy=0&i=t52953448678&r=9338.png
IWM & SOX not looking good
Started by
no_mind
, Mar 02 2012 04:55 PM
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