IWM is basing, don't get bearish yet

Hey all, IWM has stood out to me for both its relative strength despite the dump into the end of September and the basing pattern it has made at a key level. I was trying to play a bounce early last week, and though I was initially up, I am now either red or neutral on every position I have longed, except for IWM, which I am up on *barely*. I expect there to be a bounce across markets in October; the question, in my eyes, remains when & how substantive; if I had to answer those questions now, I think we put in a bottom early this week, and I am looking for a roughly ~9% bounce on the S&P. As my key reference point, I am looking to 2008. I think we have a ~9% deat cat(S&P) bounce before an accelerated sell-off, similar to 2008. I think trading long here on the Russell is a very solid risk:reward trade.