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It may work, it may not.
It can be played on IWM, TWM and TZA.
The setup is a bullish falling wedge or bearish rising wedge, depending on the issue. For the setup to work, price must breakout – up or down – out of the wedge [and stay out].
Such a breakout [up or down], will often jump, and then step back to backtest the breakout. Other times, it will jump and keep right on going.
(more…)I find this absolutely fascinating, particularly in light of two new European countries entering NATO:
The one and only thing that saved my bacon on Wednesday was energy stocks. I’m pleased to say I think more crumbling is on the way, thanks to crude oil:
The lamest, most-hated “brokerage” in the world is finally getting a break. What’s their latest innovation? Laying off nearly 30% of their workforce. Hey, it’ll save big bucks!
The biggest company in the world has retracted absolutely perfectly to its broken trendline. If it stops rising, this could be a very powerful harbinger of what’s next.
