Category Archives: DRV-24-03

Russell 2000, Search for ‘Danger’

August 19, 2024 By in David Weis, DRV, DRV-24-03, IWM, IYR, Real Estate, Russell 2000, TZA, TZA-24-01, Wyckoff

Testing at The Axis

At this juncture, Russell 2000, IWM is not only looking for The Danger Point®, but at the close of this session, it’s there.

While everyone else is breathlessly calling the ‘end of the correction’, we’re working the market from a strictly objective standpoint.

That is, what’s the market saying about itself?

With that, take a look.

Russell 2000, ETF IWM

“What do you see?”

Well, it appears that we’re at the point where it can go either way.

It’s as if the ‘weight of a feather’ could move the market (Wyckoff, 1910).

Positioning

From a positioning standpoint, this is where the risk is least for a short position (not advice, not a recommendation).

Low risk does not mean no risk. It just means a potential inflection point.

Housekeeping

As stated in this update, the short trade via DRV, had a tight stop. That position was exited early in the session with a ding (loss) of about 4%.

Moving on to the market at hand.

David Weis mentored his students to look for trades at the ‘edge of the lake’.

We’re there with the price action of IWM. Several attempts (up to a point) to position short are to be expected (not advice, not a recommendation).

Stay Tuned

Charts by StockCharts

Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.

The Danger Point®, trade mark: No. 6,505,279

Update: Ins & Outs

August 16, 2024 By in $SPSIBI, Biotech, DRV, DRV-24-03, IYR, LABD, LABD-24-17, Real Estate, SPBIO, Wyckoff 1 Comment

Biotech and Real Estate

Those monitoring this site are witnessing the search (for the short entry) in real time.

As said in the prior update, just because Fibonacci lines up, both in time and distance, does not guarantee anything.

From a Wyckoff perspective, as a result of Wednesday’s XBI price action penetrating the prior days’ low, and then stopping dead, there was a probability of a (minor) spring … which we got the very next day.

By the way, that upward move (yesterday) carried the XBI, near another Fibonacci retrace level: 61.8%.

As a result, the LABD-24-17, was exited with about a 3.6% loss (not advice, not a recommendation).

Now, on to the action at hand.

Real Estate IYR, Daily

Depending how price action progresses, we’ll go into more detail on the technical condition.

Today printed a new daily low and we have an MACD (bearish) crossover still in effect.

Trade action was to go short via DRV with a representative stop (for DRV) one tick above the IYR high: 95.96 (not advice, not a recommendation).

Admittedly, it’s a tight stop and that’s the point.

If IYR turns and starts to exhibit buoyancy, we don’t want to hang around.

Stay Tuned

Charts by StockCharts

Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.

The Danger Point®, trade mark: No. 6,505,279