IWM Q3 rotation.
If you pay attention to quarterly rotations - the timing of their occurrence, the breadth of selling and the actual rotation direction, read further.
Quarterly rotations don’t always take place on the same time each quarter. Sometimes they strike early or late. This causes difficulty in determining when to take a position, which is why we build positions over time, not overnight.
With the big government spend bill, there is fundamental support for a rise in price over the next several weeks. Another trillion freshly minted dollars will achieve its goal of sending the dollar lower with the 10 yr in tow.
I first predict a new high and potentially into breakout territory over the next several weeks. But as we approach Q3, be wary of the imminent rotation.
As during previous rotations this year, the price finds itself on the edge of several different support lines. And that is precisely what I see by late august or early September. The rotation kicks off selling and the break out will pullback to find and confirm long term support.
The thick red line is from September 2020. Where this line and the 0.618 level meet is where I suspect price will find itself.
Quarterly rotations don’t always take place on the same time each quarter. Sometimes they strike early or late. This causes difficulty in determining when to take a position, which is why we build positions over time, not overnight.
With the big government spend bill, there is fundamental support for a rise in price over the next several weeks. Another trillion freshly minted dollars will achieve its goal of sending the dollar lower with the 10 yr in tow.
I first predict a new high and potentially into breakout territory over the next several weeks. But as we approach Q3, be wary of the imminent rotation.
As during previous rotations this year, the price finds itself on the edge of several different support lines. And that is precisely what I see by late august or early September. The rotation kicks off selling and the break out will pullback to find and confirm long term support.
The thick red line is from September 2020. Where this line and the 0.618 level meet is where I suspect price will find itself.
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