IWM weekly
I would get concerned if IWM breaks below 82 at any point this week. A break under 82..would open up as move to as low as 76 - roughly a 10% move...aka..SP'1300.
SP' weekly
SP' is far more stronger than the Rus'2000 (aka, IWM), even though momentum IS lessening, we are still positive cycle, and there is ZERO sign of levelling out, never mind any rollover.
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*VIX - weekly. I won't even bother posting a weekly VIX chart, just seems pointless. The daily moves are all noise, and until I see it above 20' is doesn't seem to merit any serious attention right now.
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So, today was another up day, and the weekly cycle is continuing the same low volume melt up. Only a complete maniac would be heavy short right now.
Good wishes
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