IWM did what I asked of it, generating an impulse leg with a pop above a prior peak at 225.93. However, I’m going to treat this feeble display of bravado as a mere annoyance for now, since it occurred in the context of a chart that has been boring us to death for nearly four months. Granted, this could be the breakout that the portfolio chimps have been holding in reserve until no one cares. But if that’s the case, let them push IWM above the 230.95 peak recorded on April 29 to command our attention. My inclination in any event is to trade it solvely with ‘rabc’ patterns, implying we will buy only on weakness.