$IWM Analysis, Key Levels & Targets for Feb 4 25

4 Şub

CRITICAL LEVEL - for the 35EMA and the 30 min 200MA - It can bounce here and we remain bullish - or we bring the 35EMA under the 30min 200 and its bear time...

IWM right now is seeing a little bit of resistance around the 225 level which is so funny to me how often we see that level. We’re at the 30min 200 MA and the 35 EMA just above us and that is a critical level if we are going to stay bullish, then we will bounce here and if not, the 35 EMA will come underneath the 30min 200 MA. this is a big level here. We also have that down gap from yesterday that we are currently right at and seeing a bit of resistance.

The top of the expected move is at 228 today and that is just underneath the 50 day moving average and then tomorrow’s top of the expected move is 229 which is just above the 50DMA

To the downside, we still have a little bit of that island gap open. We closed about half of it out yesterday and the other half is down there near the bottom of the implied move at 220 and 219.

5 Şub

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I shouldn't have put that arrow in but I was trying to draw attention to the critical level of the 35EMA and 30min 200MA and that it would be a make it or break it level...

and we opened with a gap up and took it to the top of the implied move at 228.

I did have a butterfly/condor setup here and it did close down today -19%