Posted by freakydude on 25th of Sep 2014 at 10:49 am
Hello to all,
I've been looking at the IWM two-year chart. I see that from
late 2012, for a bit more than the next year, the 50 day MA served
as support. Then in the last year, things got very choppy, yet
quite symmetrical the way I'm viewing it. There's kind of an
extended "M" pattern, or seen another way, a head-and-shoulders,
but with a striking double head. But all peaks and valleys seem
rather evenly spaced. In any case, a death cross seems to be
occurring and price has broken through the 50 and 200. To my
uneducated eye, maybe there's support around the 106-107 level and
then look out below after that. However, I'm aware that things can
reverse in an instant.
IWM prognosis
Posted by freakydude on 25th of Sep 2014 at 10:49 am
Hello to all,
I've been looking at the IWM two-year chart. I see that from late 2012, for a bit more than the next year, the 50 day MA served as support. Then in the last year, things got very choppy, yet quite symmetrical the way I'm viewing it. There's kind of an extended "M" pattern, or seen another way, a head-and-shoulders, but with a striking double head. But all peaks and valleys seem rather evenly spaced. In any case, a death cross seems to be occurring and price has broken through the 50 and 200. To my uneducated eye, maybe there's support around the 106-107 level and then look out below after that. However, I'm aware that things can reverse in an instant.
Comments?
On the Russell futures, 1100
Posted by a_l_ on 25th of Sep 2014 at 11:23 am
On the Russell futures, 1100 is the critical level with no recent support below. Monthly pivots down around 1072 & 1046