MACD on the IWM 0.00%↑ flashed a “go” signal today. Small caps have been battling $222 since July, and while it sits at that level today, a break above would be a real good sign for a hopeful end of year rally into prior highs near $245. Given the short proximity to my risk management level at $222, I’m playing this through UWM 0.00%↑ and TNA 0.00%↑ , which provide extra juice (this works in both directions)
I’m long TNA 0.00%↑ with a stop out near the confluence of the AVWAPs from recent pivot high and low points (purple lines above). A move up to the July highs is the target, represent a retest of all time highs for the small cap index.