IWM & SPY in Precarious Near-Term Technical Positions

Both iShares Russell 2000 (IWM) and SPY (lower chart) are in tenuous technical positions right now. IWM has violated key support at 134.80/40, but has yet to follow-through to the downside, while SPY is probing, piercing, its Nov support line. Let’s see if the bears can get any traction to the downside after inflicting initial […]

Peering Over The Edge

This is obviously a very toppy looking setup on SPX and it’s highly likely that SPX is topping out here in the short term, and very possibly making a major bull market top. In terms of timing, topping processes on SPX tend to be slow and my working assumption has been that SPX would kick […]
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