IWM Outlook
TECHNICALLY: A convincing break above the 0.50 fib retracement level at ~221 may signal further upside. Alternatively, I think we may retest 207.
ZOOM OUT: IWM has been powered recently by huge moves in "meme stonks" which I see as simply unsustainable. When the "buy the dip" mentality breaks down I think we'll see major retail capitulation.
MY MOVES: While IWM is below 221, I'm short.
DISCLAIMER: I'm not a financial advisor, do your own research, this ain't trading advice - just some ideas.
ZOOM OUT: IWM has been powered recently by huge moves in "meme stonks" which I see as simply unsustainable. When the "buy the dip" mentality breaks down I think we'll see major retail capitulation.
MY MOVES: While IWM is below 221, I'm short.
DISCLAIMER: I'm not a financial advisor, do your own research, this ain't trading advice - just some ideas.
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