Buy and Sell Signals, and Other Market Perspectives Message Board

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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

SPY 692.06

-0.3%

Feb 10 4:00 PM EST

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From: expiredoptions	4/26/2013 8:36:10 AM
	Read Replies (1) of 223121

The IWM (ETF for RUT) at 93.40, is one of the first major EFT/Indexes to suffer a potential breakdown of its long term uptrend. An uptrend is defined as making higher highs and higher lows. A downtrend is defined as making lower highs and lower lows. IWM and RUT (both identical chart patterns) have started the process of lower highs and lower lows. Judging by its recent mini rally of a 5 candle rise and a topping tail (inverted hammer) on the last candle, I would say the IWM is heading down for another lower low (89).

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