Friday, April 8, 2011

FORGOT THE IWM

Since I captured the screen shots, the IWM has broken down even worse so the %'s are worse then they will appear in this post.
 Important support levels on a daily chart, the $84.23 has already been taken out in the last few minutes, now at $84.14

 Here ar the important support levels, the last one ($84.23) has already been broken

 3C IWM 30 minute in a leading negative divergence, not when it started, April 1st.

 The Stoch/RSI signal I've been using more frequently has a pretty bad RSI divergence (compare price levels with the marked period in RSI and Stochastics is turning down.

Here's the 60 min crossover screen which has generated a sell signal, the daily will take a day or two to catch up. Also the red dotted line is a VWAP (volume weighted average price); it has acted as support during the rally, it's now broken so there are some people caught at a loss here.

Before the move down in the last few minutes, the 6 day period ending Q1 saw a huge gain of 3.26% (remember that the Fed has seemingly concentrated it's firepower to levitate the broad Russell 2000 index). The April performance (again calculated before the last few minutes in which the IWM broke important support came in at -.40% making it the second worst performing average for April. I just quickly recalculated it, the IWM is now at an April loss of -.60.

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