well that was quite an interesting post FOMC bit of action...
IWM finally snapped lower, but the closing hour saw a little rebound. I've added a few possible channel lines - maybe we're in an expanding wedge, with a lower channel as low as 80.00 by Thursday
IWM 60min
The 60min momentum could easily crawl lower all of Wednesday.
Provisionally speaking, this last hour up seems like a fake-out, looking for new lows tomorrow, probably at least down to 82.00
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*to be clear, I still think this is just another cruel tease to the bears, with major up moves next Monday onward.
more later!