Stock Market Update, Forecast, and Outlook: July 2013 IWM Trade

An end of day market update for the IWM bearish entry that was triggered yesterday. Today's action may just be a continuation of the topping action. I have placed a stop area on the chart, which is approximately the range of yesterday's candle added to the high of yesterday's candle (I rounded). This is a standard way to set a daily stop (See Perle on Demark). Here is the chart:

Markets are working through the Fed news right now and today does not change the exhaustion play for me. As always, I will post when I exit a trade.   Peace, Om, SoulJester