Combination Ichimoku Cloud, Pattern, And Alligator View For IWM

The chart above is daily, and is a combination of the Ichimoku Cloud , Pattern Swing Trade, and Alligator systems. There is a bullish and bearish case for IWM . The pattern swing trade shows a bearish bat the the end of impulse leg D (Fibonacci .618). Yet, if you look to the far right on the chart ( bright green up arrow), the Ichimoku Ki jun-Sen (baseline) just went positive, rising above the cloud. (This may not be a positive because this is a lagging indicator). The red dotted line is the teeth in the Alligator system, and this is flat, as is the solid red line above it (the conversion line in the Ichimoku Cloud system). The recent price action in IWM has traded below the Ichimoku Cloud conversion line 6 times in the past three weeks, which I view as a negative. The scattered up and down green/ red arrows are fractals (this system created by Bill Williams in 1995). A rule of thumb is "do not accept a buy fractal if it is below the alligator's teeth" (dotted red line), and "do not accept a sell fractal if it is above the alligator's teeth". There is a sell fractal just to the left of the bright green arrow at approximately $101 on the chart. The three indicators below the chart are divided: RSI (top) is overbought; Vortex (middle) slightly positive with green over red, but sagging; CCI (lower) extreme over-bought). I see the signs of IWM trend reversal (to the downside) developing. One other negative not on the chart shown, IWM is still under-performing the S&P 500 . It is 14% off its high of $129.10. I do own RWM , the inverse of IWM , so we will see. I hope this has been informative and helpful. Yours for better trading, Don.
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