Right angled and descending broadening game plan

On the iwm weekly it looks like a flat top at $120ish with a broadening bottom. Breakout above has a target of $132ish. Downside target of low $90s.

the daily chart is sloppy and has a little more to reach the top line. Should be some resistance above. I’m hoping for a test of the upper line then pullback to $117s to clean up the gap and then break out into $120s. But a clear break into $120s and it may not look back.
If it can’t break out then need to wait and see.
http://thepatternsite.com/rabfd.html

Sp500 blast off

Blew right past 2019 and ended at 2060s. I think most hope for a pull back to 2020s to close some gaps then take off again. Maybe if iwm hits $120 then markets will fade back.

Market back up top

Market gap up 1% overnight and held nicely. Amazing bounce back blew right to recent highs. Now iwm must get above 118.78 then 120 is the big one. Could see a pull back at $120.
Quick market got people short on the break down then shot back up in two quick moves. I feel half left behind but half ok since I lightened up at the top anyway.

If iwm has been lagging/consolidating and now ready to take off again then 2015 is gonna be huge.

Sp500 huge fed day

Fed announced today business as usual and rates won’t rise well into next year. Huge bounce off support but lots of damage done on charts still. 10ma and 20ma still falling hard above. Res around 2019 soon and maybe another down leg before new highs?

iwm spy breaking down

https://www.tradingview.com/x/mcmkaFCE/ IWM hourly. still breaking down from diamond top.

https://www.tradingview.com/x/vnuRQjKP/ SPY daily. closed the little gap. would be nice if this area held.

Decision time

Iwm 15 minute. If you just look at the final outcome markets were up 0.4% but that is deceiving. Rallied hard at the open only to fail again.
Two inside days. After the run back up to $117+ as planned sold 40% tna then it failed. Reloaded end of day. Ended the day the same as yesterday with the double bottom at the TL. But I’m not as confident with this going long as yesterday. Tight stops.

Sp500 daily. This looks bearish. Retested the 10ma 20ma and failed. 2015-2019 needs to hold. Then could see 1980s. Needs to bounce soon.

Ugly

https://www.tradingview.com/x/AnTl3jAT/ IWM hourly. yesterdays huge rally fizzled hard and just as fast. IWM didnt go below yesterdays low while SPY did and then some. not sure what that means yet. reloaded TNA at the end of day playing for a bounce to 116-117 zone.

still in the diamond for now. hope yesterdays low holds…

https://www.tradingview.com/x/Myu8j4BD/ SP500 daily. look for a bounce attempt  at 2019 last peak in Sept.

IWM short squeeze

https://www.tradingview.com/x/NJumf4P6/ IWM daily. massive day today to engulf over a month of trading with volume. still in the same place just barely above sept peak.

https://www.tradingview.com/x/Dn5KqfV8/ IWM 30 min. glad i didnt sell my TNA yesterday. i figured the lower TL was gonna get hit but $116 would be a magnet to pull it back, but i didnt see it going all the way back up to the top. h&s is sorta possible but really sloppy. diamond is still ok but loose boundaries. while i am still bullish i dont trust this thing and will wait for a breakout.

sold into rally 14% TNA remain

IWM retesting the lows? crude failing

https://www.tradingview.com/x/KhCBno9g/ IWM hourly. nasty day but half expected thats why the sell of half yesterday. tried to get too cute today and paid the price. coulda been worse though. everyone talking about h&s in iwm. im still not sold. next couple days should be interesting.

https://www.tradingview.com/x/hwFmlrxL/ crude oil daily. this is why gas is cheaper. but also taking down a lot of energy stocks.

Iwm

Sold half at the top on Friday. Coincides with downtrend line. Possible diamond top or h&s still. But if it breaks out above then reload tna. Target of $120-122. Support at $116
http://thepatternsite.com/diamondt.html