Last post on IWM: https://bartscharts.com/2023/02/03/iwm-february-3-2023/
The sell PATTERN worked from the last post but it really hasn’t gone anywhere – amazing that the “number” is still holding the bots, super computers, hedge funds, etc. from blowing thru it … all based on sacred geometry and music.
So, it’s not that much of a stretch to see this as a “bearish flat correction” in EWT and we are finishing/finished w/ the Wave C and IWM starts back down.
Did some very rudimentary timing work to get a feel for the timing … we could certainly go up a little more into resistance shown by the horizontal black line but let’s just wait and see what happens.
Last, the IWM “bottomed” on 161.8. Pfizer topped at 61.8 … can’t make this up folks. Cheers.
The above is the bearish case near/medium term for now … but when we have corrections like we do I always go back and work thru what Michael
Jenkins (www.stockcycleforecast.com) taught me w/ Mirror Image Foldbacks. They are AMAZING PATTERNS to see and follow and they “usually” will “fail” at the swing points but check this out … maybe? near term IWM keeps chugging up and then gets tanked? Hmmmmm ….
