IWM – KEY SUPPORT

last post about IWM: https://bartscharts.com/2021/02/21/iwm-is-that-it/

that’s the great thing about patterns … they work or they don’t.

WHEN they do, they tell you something.

conversely, when they DO NOT work, they tell you something.

I’ve been showing a 5 wave count in IWM for a while and, just recently, it went up and tagged our target zone. it’s one of many target zones …

the question is “is this the one?”

I don’t know … but we have an intraday BUY PATTERN and if this is a bullish corrective move then this level SHOULD hold … yes, a correction can go into the 210’s but in this case we have the classic AB=CD, 1.4142 extension and the .382 retracement all right here, right now.

IF bullish, THEN this level holds and goes higher …. we’ll see

Author: BART

BART is a CMT and an expert a "advanced" pattern recognition used w/in the intermarket analysis discipline. He's also an accomplished Business Development Executive providing solutions to a myriad of business markets.

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