IWM - iShares Russell 2000 - About to Drop More

I always say that Price will always follow the MFI so when you see a strong Divergence between the MFI and the Price Movement it's only a matter of time. I've shown my Price Point Expectations in the relatively near term though it generally doesn't move too quickly.

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Well I find it interesting that the markets along with the IWM are maintaining as much strength as they are. With the MFI bottoming out for the first time in 4 months I was expecting the price to fall further but only a few $$ as IWM normally moves at a snail pace but instead it rose up and is now forming a Bullish Falling Wedge Pattern. The pattern should break out to the upside in the next 2-3 days however if it gets turned back from the upper line of resistance then it may hit the original lows I was exoecting before making another attempt and breaking out. The fact that it also had a golden cross form on Dcember 18th after it had gapped up and then within a few days started to fall is not a typical occurance as the MFI then almost immediately started to drop meaning investors were taking profits, though I expected the price to drop further before stabalizing and moving up.

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Furthernmto my weekend analysis where I said IWM should breakout in the next 2-3 days, well yesterday IWM did breakout and now it appears the likeliness of it achieving my target at $205.00 is pretty strong based on the rising MFI and the ultimate retesting of the most recent high.

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Not a lot to see here. My big concern was the golden Cross having only a $6 move. It wouldn't surprise me if we see a move back down out of the trading channel to $178.