Quick IWM Update

With continued weakness in IWM and an inability to provide us with a bigger bounce SO FAR, I have to at least put out a warning that a break down below 125 here sooner rather than later will open the potential that 123 will not hold as support, and it opens a path to the 111 region for this c-wave of 4.  While I would still expect a 4th wvae bounce before we hit that 111, I just want to point out what will point to a break down below 123 sooner rather than later, and suggest a deeper correction for this c-wave of 4, which was mentioned last night.

IWM daily
IWM daily
Avi Gilburt is founder of ElliottWaveTrader.net.