Forum Clusters 111104.xlsx
All we can say about IWM is that the expected trading range that I wrote about last weekend is becoming reality and the ETF is now near the middle point on the Weekly pivot (74.51).
Depending on the reaction to the employment report or other headline news, I see it as having as many chances to hit first SS1 (77.56) than SS2 (72.33). Indeed, there are only weak daily levels to cushion any move in any direction. Such a setup, combined with conflicting LT/ST settings from the robot, doesn’t provide any proactive edge whatsoever.
Billy