$IWM 1M (monthly) chart shows a much weaker struct
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Posted On: 04/27/2025 2:48:26 PM
$IWM 1M (monthly) chart shows a much weaker structure compared to SPY and QQQ. $IWM topped near $244 (2.0 fib extension) and has been in a clear monthly downtrend
Broke below the 1.414 fib extension ($202–203) > bearish.
Now stuck under $194, fighting to stay above big monthly support ($186–190).
MACD monthly bearish cross already confirmed. Monthly RSI trending down below 50 = bearish momentum. Volume on down months remains elevated → institutions still selling.
Needs to hold $186 or risk accelerating to $177 → $172 → $156
Short-term bounce underway, but unless $202+ is reclaimed, bears still in control longer term
https://www.threads.com/@millionairetradersal...g03ED2nBnQ
Broke below the 1.414 fib extension ($202–203) > bearish.
Now stuck under $194, fighting to stay above big monthly support ($186–190).
MACD monthly bearish cross already confirmed. Monthly RSI trending down below 50 = bearish momentum. Volume on down months remains elevated → institutions still selling.
Needs to hold $186 or risk accelerating to $177 → $172 → $156
Short-term bounce underway, but unless $202+ is reclaimed, bears still in control longer term
https://www.threads.com/@millionairetradersal...g03ED2nBnQ
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