If you haven’t been following along with my short-term timing system you might want to go back and see prior posts on the IWM.
The signal changes frequently since it’s based on a 60-minute chart. Like any indicator, it can give a false signal and get whipsawed but it always catches a significant trend change close to the point of reversal.
As we see, the IWM rallied right back up to a level I’ve had marked as prior support and resistance. We’ll have to see if it can follow-through from here.
Click Chart for full-size image.