IWM - Weekly - 6.27.16.png
IWM weekly. This is not investment advice.
On a larger time frame one could say that IWM is approaching green zone of it's H&S neckline. All depends how one chooses to interpret charts. Caution is advised:)
It's not just about a pattern or a trendline. I only use those in these charts because it makes it easy for people to understand. More importantly is the volume-range relationship at each support and resistance zone(s) and what they tell us about the tape and where in the cycle the market is currently in.
What do ya know, a right shoulder! Great call!