Markets have rallied up to the declining 5 day moving averages and found resistance there. The market is still trying to stabilize and it is looking like the bulls best chance will have to wait for next week.

IWM Getting Close

IWM is trading ~8155 right now (testing March 29 low of  8158) which is below yesterdays low, below the VWAP of the March low thru yesterday high and below the rising 50 day moving average (see inset chart).  To those who haven’t been listening to … Read More