2022-06-23

Tomorrow Is D-Day

I said today was D-day this morning, but now it looks like tomorrow. NQ, ES and RTY all hit and failed again at trendlines I have shown in recent days.

Here is the RTY trend line and a chart of IWM. The green dotted line on the IWM chart maps to the 1715 line in RTY, the difference being dividends and maybe some slippage. Either way, this is the whole game right here. Above and there's at least another leg up in the rally of 5 to 7 percent. Fail with force and the odds of a larger rally start collapsing in the days ahead.

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