Downward Pressure in IWM

IWM-- Now that IWM has cracked beneath 154.90, and its next downside target is into the unfilled gap area at 156.40/45, which if violated and sustained, points to 155.80/90.

More importantly perhaps, is the larger-developing picture, which shows a potentially MAJOR Double Top Formation at 160.63 and 160.30 that is exerting downward pressure within what looks the initiation of a secondary corrective downleg off of the Jan. all-time high... Last is 156.52/53

3 15 18 IWM Day GIF
3 15 18 IWM Day GIF

  Matched
x
  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!