Starting Position long in SRTY-Short the IWM/R2K

SRTY is a 3x leveraged Bear/Short ETF for the IWM, I think I'll be opening a partial position, likely 2/3rd of a normal size position here in the equity model portfolio, here's why....

 Remember I said that since the IWM took out the orders above resistance last week, the underlying trade there has been much weaker than the other averages which makes sense because the profit motivator was already hit last week. Here on today's gap down, the IWM / Russell 2000 tried to fill the gap, as it did the 15 min chart went negative in to price strength or price moving up, not a good sign.

 SRTY is the 3x leveraged IWM short or Bear ETF, this 15 min chart is flying in a strong leading positive divergence.

Even the 30 min chart is leading positive.

Just remember that an IWM position is close in correlation to a small cap position so you want to be careful not to have too much exposure to the same asset class or highly correlated assets.