IWM - iShares Russell 2000 ETF

[greggles]

Been watching this index ETF lately. It broke down through the uptrend on the weekly at the end of last month and hasn't been able to get back above. Continued failure could trigger a break to the downside with next support at $200.

 

[DaveTrade]

Been watching this index ETF lately.

Me too, it's interesting because the small caps may be getting ready to catch up to the large caps. It's at a potential double top and I'm waiting to see if it breaks it.

Looking at the weekly chart, it's made seven waves up already, the average is five but markets can sometimes make nine or even twelve.

The daily chart shows it making a higher high right now and I'm waiting to see if it puts in a higher low, if it does I'll then be looking to see if it moves higher or sideways. This market does have the potential to make a big move, if I see that starting to happen then I want in.