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Iwm Top Call Still in Effect

Posted on the 13 March 2014 by Souljester @souljester618
So far that March 4, IWM TOP CALL was dead on having marked the top in IWM. The call was posted at IWM 120.22, and the top was 120.58. Calls are just ego, but it was a pretty simple thing to presume since the last 6 times we hit that channel IWM sold.  Here is the IWM chart with the March 4 EOD top candle circled: IWM TOP CALL STILL IN EFFECT More importantly, SPX has now followed with a break of its 1858 monthly average this morning and a close below as was noted this morning on Twitter. We have also now closed below yesterday's low. As was discussed on Twitter, SPX short term resistance is now at 1857-58 and that area would need to be taken and held before I contemplate additional topping. Presently we are in a down wave. So long as resistance holds, next area of interest to see what is up is the cloud baseline at SPX 1810.   My posting remains limited until May and I will just continue to post thoughts on Twitter as I have time. There is always a bear path and a bull path. We cannot know which path our future will choose. As always, do your own due diligence, read the disclaimer, and make your own investment decisions. Peace, Om, SoulJester

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