AMEX:IWM   iShares Russell 2000 ETF
BULL CASE

  • Channel support looms.
  • Big volatility down trend (RVX) - possible support of 29 in RVX from March breakout.
If uptrend from 7/31 in channel continues:
  • 166 would be fill of Feb gap down.
  • ATH's come next at 171.
  • Multi-week, channel upside goes to 185.

BEAR CASE

  • Bearish divergence on RSI, riding up on down volume.
  • Multiple support levers that could get swept away in sell-off.
  • Double top alive if bears capture ~154 in the near future.
  • Early August gap needs filling down to 151.
  • Mid June gap needs filling down to 142.

Open to any thoughts/feedback. Mostly going through this exercise to force myself to be clear-eyed about risk reward.
Feragatname

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