If it can break above 218 it should give a boost to Santa. If it fails here my preferred short-term target is 198.
IWM?
Started by
steadyquest
, Dec 21 2021 02:31 PM
10 replies to this topic
#2
fib_1618
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Posted 21 December 2021 - 08:55 PM
Below is the cumulative breadth chart (blue line) of the Russell through last Friday.
It should also be duly noted that there was re-balancing of several indices on Monday including the Russell which now has 2051 components.
http://technicalwatc...thrut121721.png
Fib
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#3
redfoliage2
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Posted 22 December 2021 - 11:04 AM
IWM JUST MADE A BREAKOUT OF THE DOWN TREND LINE ...................
#4
fib_1618
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Posted 22 December 2021 - 01:59 PM
IWM JUST MADE A BREAKOUT OF THE DOWN TREND LINE ...................
Time scale?
Fib
Better to ignore me than abhor me.
“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw
Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.
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#5
redfoliage2
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Posted 22 December 2021 - 02:06 PM
IWM JUST MADE A BREAKOUT OF THE DOWN TREND LINE ...................
Time scale?
Fib
I used 120 min chart. But let's see if it does not fake out by the close today ...................
#6
MikeyG
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Posted 22 December 2021 - 04:22 PM
I would look to stronger indexes to buy if you want to go long. Small Caps are under pressure by possible rate hikes and the Biden policies are easier for big business to handle
Edited by MikeyG, 22 December 2021 - 04:22 PM.
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#7
Chilidawgz
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A fool and his money... (the second mousie gets the cheese)
Posted 22 December 2021 - 08:30 PM
IJR, not the IWM but it's cousin. I trade the IJR.
Anything can happen...what's happening now?
No one can forecast the future. No one.
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#8
K Wave
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Posted 23 December 2021 - 01:05 AM
That hourly Death Cross likely to be big resistance.....
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#9
K Wave
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Posted 23 December 2021 - 01:09 AM
A bit longer look...that last pivot set is HUGE...it better not break....
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#10
K Wave
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Posted 23 December 2021 - 01:12 AM
In any event, looking at this ramp job as a fast and furious bear market rally after the pretty clear breakout....oops...fakeout top action...
until proven otherwise...
Edited by K Wave, 23 December 2021 - 01:12 AM.
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
