IWM – Russell 2000 ETF (Last:68.39)

The Russell 2000 is near a midpoint pivot which can be shorted with a tight stop, using the exchange-traded fund IWM.  On March 23 we identified a weekly pattern with a “D” target at 70.67.  Since then a daily pattern has been confirmed whose midpoint is at 70.23, a pivot which is more likely to give us tradeable precision.  Traders can go short at 70.17 with a stop at 70.31, risking $70 on a 500-share position.  Futures traders can sell the June Russell 2000 contract at 697.70 with a stop at 699.10, risking $140.  For the futures, the pivot is at 698.35.  (Posted by Doug McLagan) _______ UPDATEThe index has gone sideways with a vengeance and is about to extending the tedium into a second month.  Although you should keep the tradable numbers given above in mind if this vehicle interests you, we are taking it off the “Actionables” list.