IWM Near term pullback expected

2014년 10월 30일

With the fed now out the picture, there is only one way to get them back in, that's the market throwing a tantrum. The IWM is still down on the year and has rallied back very violently from its most recent low, right into a strong resistance, it hit it and fell back. Near term support is 108.50-109 area then no one home til a test of the recent lows of 104. The market across the board looks ready for a pull back and the fed gave the excuse to say the very least. IWM is 55x earnings and very low volume, this market is very illiquid. Any pullback will get scary very fast. I expect a material pull back by next friday