Thursday, October 27, 2016 7:31:59 PM
Now we see IWM's spectacular breakdown from its bearish descending triangle. This formation is on the S&P 500 and Dow above and you'll see it on many of the other large- and small-cap indexes. IWM could be leading the way to a market breakdown. Small-caps are typically the first place we will see weakness and in many cases, the first place to see recovery.
The picture does not brighten for IWM when you look at the weekly and monthly charts. The rising wedge is executing. You can see a wedge on most of the large-cap index weekly charts. (Go to the DecisionPoint LIVE free public ChartList to review) and a new IT PMO SELL signal is on tap. This signal will not go "final" until the close tomorrow.
BY DecisionPoint
The picture does not brighten for IWM when you look at the weekly and monthly charts. The rising wedge is executing. You can see a wedge on most of the large-cap index weekly charts. (Go to the DecisionPoint LIVE free public ChartList to review) and a new IT PMO SELL signal is on tap. This signal will not go "final" until the close tomorrow.
BY DecisionPoint
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