IWM: Week of Jan 8th

Per request, here is IWM.

My immediate TP for IWM is a move to 189, which is PL2 on the month.
There is where I would look to get long:



ARIMA has IWM as down-trending into next week and I concur with this assessment.

189 is also within the low range forecasted for next week.

IWM has a similar setup to SPY on the weekly via Heikin Ashi:



But we do have some bullish upside on the horizon judging by the daily:



Again, timelines are wishy washy with all of this, its a matter of waiting for whichever setup comes first.
As of now, imo, the setup is short to 189 and then, provided this level holds, a long for a bounce.

We will see how it plays out next week, we do have that GT on the month as with SPY. I am curious how this is all going to unfold.


Those are my thoughts on IWM!
If you have any ticker you are interested in and want me to cover for next week, leave a comment and I will make a point of going over it!

Thanks all,
Safe trades :-)