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Here’s Why Intrepid Knight Shorted IWM

This is a syndicated repost courtesy of Slope of Hope. To view original, click here. Reposted with permission.

Good morning from Tim Knight, “the Dan Bilzerian of technical analysis”, as we enter another exciting week of charting.

Liquidity moves markets!

Follow the money. Find the profits! 

Below is a close-up of the IWM (the small caps) with the PSAR and Bollinger Bands. Of note is that the PSAR has “flipped” bearish (note the red dots above the price levels).

A somewhat longer-term view with a trio of simple moving averages shows prices pressed down against all three lines. I’ve shorted IWM with a stop at 154.71, just above today’s high. This is on top of my 52 other existing shorts, all of which are individual equity positions.

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