BY LICIA LESLIE
November 19, 2023
Hi Shoppers,
IShares Russell 2000 Index (Ticker: IWM) has bounced off the downward sloping trendline that it has broken out of:
I believe it is on its way back to the 200 day moving average at $182 (turquoise line).
I am looking at the calls expiring Wednesday Nov22nd:
I will buy the 178 calls and once IWM rallies, I will sell the 182 calls.
Of course IWM needs to open and trade higher tomorrow morning.
Use Friday’s low for your stop loss.
Trade Review
Friday had a pretty tight range. S&P 500 did not trade as high as I thought it would. I am still bullish for SPY to trade up to $453.
Thanks for Reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
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