Despite histrionics in the DJIA and S&P this morning, IWM has stumbled below yesterday's close and looks headed straight for a break below $220 and a confirmation that the entire rally up from the Nov 3rd low was a counter-trend second wave leading into a violent third wave down. IWM below $220 makes that case strong enough to add-on bearish trading positions with index puts. It also opens the door for a pop in UVXY, but we will wait for UVXY 's own confirmation before adding there. IWM - Short-Term (Hourly) Sell Signal IWM Jan 21 2022 $210P (4.50-4.60) Target: IWM <$200 Option Target: >$12 Stop: 50% (trailing)
