Two of my Favorite IWM Charts

You may recall yesterday the IWM did NOT reach a 5 min positive divegrence, only the SPY did.

The 5 min charts in the IWM are not only interesting intraday, but in the larger picture as well, this is one of the main reasons I chose to move forward with a SRTY (3x short IWM) position.

 IWM 5 min on an intraday basis incl. yesterday, this is migration to the 5 min chart, but here it appears as if it confirmed which it did not, also as you'll see on the next chart, the parabolic move alone is something I'd consider as a reason for an IWM short as I never trust these and they almost always tend to end as badly or worse than how they started.

This is the same IWM 5 min chart just scaled out a bit to reveal 3C'
s position vs. the past, IWM did not confirm the gap up, far from it and on top of that it is seeing a 5 min intraday leading negative divegrence, I didn't even have to look beyond the 5 min chart in this case.