Good morning from Tim Knight, “the Dan Bilzerian of technical analysis”, as we enter another exciting week of charting.
Below is a close-up of the IWM (the small caps) with the PSAR and Bollinger Bands. Of note is that the PSAR has “flipped” bearish (note the red dots above the price levels).
A somewhat longer-term view with a trio of simple moving averages shows prices pressed down against all three lines. I’ve shorted IWM with a stop at 154.71, just above today’s high. This is on top of my 52 other existing shorts, all of which are individual equity positions.