Loading ...IWM two possible interpretations
Either we are building a H&S top. or we have just broken down from a bearish rising wedge and backtesting the breakout. Time will tell. This rally is rather weak relative to the decline we had so I am favoring the backtest. I would prefer the H&S pattern and that would correlate with a rip your face off rally in the S&P to 2050. That would be a better risk/reward short set-up.