Originally discussed here, $IWM is encroaching on the orange target range consistent with a wave 2 and has some bullish divergence. This of course could change with a deeper plunge, but until it does that, the structure is, as it stands, a bullish one and we may expect a bounce.
[UPDATE]: Since this fell precipitously from this point, contrary to my expectations, I will file this under “Unsuccessful Calls.”
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