I sent this IWM chart out late yesterday with price sitting right on that interim trendline rising up from the Jun and Sep lows. Price gapped down below that trend line on the open this morning and the market is heading into the close looking mega-bearish for next week. Rollovers from yesterday should be done....less than hour to go until the close. IWM 120 minute If the projected price path indicated by Wave 3 of (3) is correct, the gap down this morning should be only the first of many on the way down. So far, so good for our short positions. Housekeeping: Weekend Update should be out as usual tomorrow, but circumstances beyond my control may push the publication back a day to Sunday.
