A giant inverse H/S ?

The Rus'2000 small cap index is suggesting a clear inverse head/shoulders formation is now complete, and with the indexes all ready to snap UP.

IWM, daily, rainbow chart

Bulls - who are brave enough to hold Long across a 3 day weekend, might do very well with a giant Monday gap up. Of course...no guarentees in this casino.

Conversely, Bears need to see a break under 81..and preferably 80.00 early next week. A break under 80 would probably result in 76.

The main problem which the bears face are that the World indexes (see my post from last weekend) are all suggesting UP, as are the same indexes from a daily cycle perspective.
-

Target on IWM - assuming it is an inv. H/S, would be somewhere around 88/92 within a couple months.

More after the close.