Forum Clusters 110922.xlsx

The IWM robot is back with a VERY STRONG short signal for today, with a limit entry (66.88) not far from yesterday’s close but apparently far above the expected gap down for today’s open.
Pre-market is currently testing YS1 (64.40) at the border of the first support cluster. If “panic” selling continues, WS3 (62.26) may be hit today or tomorrow. But YS1 should normally trigger at least some short-covering and buy programs, so a tentative gap-fill after the open is most likely and IWM could hit the robot’s limit entry price.

The trailing stop (70.74) is now below the initial entry (70.81). It is the robot’s first very strong short signal just below QS3 and SS3. That’s clearly the most bearish omen for the overall market.

Name: iwm110922.gif Views: 5115 Size: 45.2 KB

No special comment for GDX today. A secondary buy opportunity at 63.25 is just neutral once again. I won’t worry much for the robot’s position above SR1 and QR1 (62.12).
Billy

Name: gdx110922.gif Views: 5105 Size: 43.5 KB