For much of last fall and into January the Russell 2000 led the way lower. Its retracement rally these past two weeks has been lagging the big boys: Nasdaq, S&P & DJI, and IWM has now appeared to have turned down, again leading the pack. IWM Hourly While I can't rule out another few days of counter-trend churning, the next major leg down will take the averages to new 2022 lows. I expect same to be accomplished before the Feb 18th expiration, especially if the move lower begins this week. IWM Daily (Intermediate Term) If this analysis is correct the IWM Feb 18th $200P (currently 4.50) could be up 5X by expiration. If wrong, losses can be up to 100%. I'll take those odds on a straight-up pattern recognition trade any time. DJI GM Still standing by for a repeat GM Sell Signal to roll puts into March expiration. With earnings out of the way GM has resumed its downtrend. Sell trigger looks a few hours to a few days away.
