Russel 2000 ETF (IWM) showed a Three Outside Down, reversal pattern, after getting near to the all time high level. Watch out for a start of down trend. 200D SMA support is at $114.
Current PE for Russell 2000 is 50.41 (over value).
Base on past IWM chart pattern, IWM has nice tradeable pattern in two directions (up trend and down trend).
Original post from My Stocks Investing Journey by Marubozu.
Original Post by Marubozu My Stocks Investing Journey
DIA, SPY, QQQ and IWM all broke the support last Friday and VIX hit almost 2 Years high at 21.24!
However, DIA, SPY and QQQ are still not in technically bearish territory yet as they are still above the 200D SMA (trending up). Only IWM is officially in the down trend. Watch out for a technical rebound at 200D SMA.
Looking at the VIX past 2 years pattern, the Fear will not last forever if there is a rebound at 200D SMA support. It is a high winning probability trade by shorting VIX at this level.
Healthcare, Consumer Goods & Utilities (Defensive sectors) are the better performing sectors relatively in the last one month. Technology & Basic Material are the worst performing sector. This is a typical sectors pattern in the bear market. Beware of the Big Bear Awakening!
Plenty of Trading Opportunities during the recent sell down:
Disclaimer: This is NOT the recommendation or trading tips. This post is for own analysis only.
iShares Russell 2000 ETF (IWM) rebounded from an important support at 108 with Piercing Pattern.
Original Post by Marubozu My Stocks Investing Journey
Trade Setup
