The iShares Russell 2000 ETF (NYSEARCA:IWM) penetrated yesterday's high by 0.05 points before reversing.
Price action looks impulsive.
Again, this is a possible low-risk opportunity to position in the Direxion Russell 2000 Bearish 3X ETF (NYSEARCA:TZA).
The stop for a position at these levels in the TZA would be: 15.96
Charts to follow.
Disclosure: The author is long TZA.
Additional disclosure: Illustration only. Not investment advice.