While the IWM fights with resistance at 70, it's clear break through the established trendline could mean a run for 72 is in order. The low volume on this trendline break makes it doubtful so I have opened a short position (long May08 80p). A significant break above the fibo at 70 will make me a short term buyer - out at 72 and then open more shorts.
Tuesday, March 25, 2008
IWM setup for Mar 26
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