Tagging trendline connecting high pivot of 2015 & 2018
The Russell 2000 ETF (IWM) is surging over 4% as Democrats likely take control of the Senate. This gives Biden control to push through more stimulus. Interest rates surged through 1% on the 10 year yield. Not only is the Russell 2000 full of small caps, but also banks. Banks rally as yields rise.
IWM is also tagging a trendline that connects the high-pivot of 2015 & 2018. Could this be a pullback level? Going in on a half-position, possibly adding if things turn favorably (sub-$200). Shorting shares is the safest route, but February/March $190 puts have a nice risk/reward at this level. Not financial advice.
Happy trading.
IWM is also tagging a trendline that connects the high-pivot of 2015 & 2018. Could this be a pullback level? Going in on a half-position, possibly adding if things turn favorably (sub-$200). Shorting shares is the safest route, but February/March $190 puts have a nice risk/reward at this level. Not financial advice.
Happy trading.