$IWM - WATCHLIST -
Added 2024-03-08 11:55:26 +0000 UTCRotation seems in full effect right now and we have got a breakout from the ascending triangle and so far holding above the $205 level.
A finish to the week above this level will be encouraging to the bulls.
We have not seen an aggressive move into small caps just yet but if momentum builds shortly, this is exactly what we could see.
Wave 3 remains at the 1.618 Fib at $247 and this could be the move for the remaining part of the year.
Comments
I guess the last few years it has been the opposite with small caps getting hit while megas ran so might not be as odd as my initial reaction
Adam L
2024-03-08 12:12:50 +0000 UTCWould this be a normal move historically with spy and qqq in correction mode like we are anticipating? I am curious to take a look at that. Would make for a very interesting market to see small caps running while the megas get hit as much as we expect.
Adam L
2024-03-08 11:58:21 +0000 UTC
