IWM 120 minutes - channel divergence continues - 1/16/2016

I had hoped a breakout today, but failed so hard. The price kept pushing lower with the RSI channel rising even more and MACD flat. It did bounce up nicely on lower channel support.

I still believe it is at or close to a tradable bottom (short term of course) given the technical profile. We will see how this plays out and hopefully we can learn something from it. More than often, market charges us tuition for learning from it!