Broadening wedge on IWM on the daily

٢٤ يونيو ٢٠٢٠

failure here would be great downside

٢٤ يونيو ٢٠٢٠

ملاحظة

failure here would be great downside

worldometers dot info

Daily new cases of COVID19 in USA are blowing through 7 daily moving average. This increase is bearish which is why I went short IWM. QQQ/SPY both are performing relatively well during COVID but small businesses will suffer if lockdowns (or even more bearish, states that have opened and re-locked down) increase. If we hit over 40k/day cases I think that will spook many investors here in America. Roughly 20% of all cases reported for COVID worldwide are from the USA.

٢٤ يونيو ٢٠٢٠

ملاحظة

IWM is currently going to test the bottom trendline of broadening wedge. very curious to see if this breaks. I took off 1 contract to lower risk. Holding the last 2 for the long haul.

٢٤ يونيو ٢٠٢٠

ملاحظة

IWM has bounced off the bottom trendline of broadening wedge. I closed 2 contracts near the trendline and will leave 1 more runner in case of more COVID fud news sending the market reeling. Could push back up with FED/MM manipulation