$SPX & $IWM - Price Action is Primal

SmartReversals
12-19

1. $.SPX(.SPX)$ - Price Action is Primal

Same arrows from previous posts. When price moves in a narrow space a squeeze is brewing. Oscillators showing bearish crossovers, $Cboe Volatility Index(VIX)$ bouncing, and breadth in a significant deterioration proved their worth.

The Bollinger band has been breached, a technical bounce is possible, but the move shows conviction.

$SPDR S&P 500 ETF Trust(SPY)$ $Invesco QQQ(QQQ)$ $NASDAQ 100(NDX)$

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2. $iShares Russell 2000 ETF(IWM)$ - The 50DMA has Essentially Been Reached

It sounded extreme three weeks ago, but shooting stars and bearish crossover in different oscillators are reliable signals for Small Caps.

Today, the Stochastic opens up a potential technical bounce in this zone, but the chart points to a likely gap fill in progress.

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