IWM - the ongoing saga...

The IWM continues to be a bit fickle during intraday trading, but it ultimately finished the day by retracing to exactly a point of fibo, trendline, and 20MA support. A welcome move for the bears indeed, however, we now sit at a pretty significant support level. Volume is still quite light with just over 57 million shares trading today. On Balance Volume is about 1 Billion - it was 2.4 Billion on Oct 9 (the last white candle before rolling off of the highs). Offsetting the "support" issue is the fact that several technical indicators are rolling over and Historical Vol is at the highest its been since mid 2002. I'm hanging onto my puts for now and watching to see which way things move when we get some volume strength.