IWM In Potentially Bullish Coil

IWM (Russell 2000 Small Cap ETF)-- Less than five sessions from the next FOMC meeting, when The Street is betting on at least a 25 bp cut in Fed Funds, IWM exhibits a potentially bullish Coil-type of pattern since its 7/31/24 high at 228.83 that my work argues is about 60%-65% complete, and when complete, will position IWM for a thrust to the upside that projects to 237 to 240... 

As long as yest's spike low at 204.21 down to the trailing, up-sloping 200 DMA now at 202.77 contains any sudden bout of weakness, IWM is nearing a potentially explosive upmove triggered by the Powell Fed's first rate CUT since the pandemic during March 2020, when Powell & Company cut Fed funds to 0% to 25%...

Last is 209.84...