Regarding IWM's Price Action

Small Caps McClellan Oscillator & $iShares Russell 2000 ETF(IWM)$

The recent bounce in the McClellan oscillator for Small Caps didn't make it above the neutral zone, that shows weakness as highlighted from previous occurrences.

Here's why the zero level matters:

1) It acts as a baseline for the oscillator's movement.

2) Observing how the oscillator behaves around zero can provide clues about the strength of the current trend and the potential for trend changes.

3) It can also help identify divergences between the oscillator and the price movement of an index, which can be a significant signal for potential trend reversals.

Regarding IWM's Price Action:

The days of higher highs and higher lows seem like a thing of the past. The 50-day moving average has been breached again, and its positive slope has disappeared.

Small caps need to recover the 50-day moving average as soon as possible, technicals suggest the $200 range is at serious risk; the recent bounce printed a lower high.

$E-mini Nasdaq 100 - main 2406(NQmain)$ $E-mini S&P 500 - main 2406(ESmain)$ $E-mini Russell 2000 - main 2406(RTYmain)$ $Consumer Staples Select Sector SPDR Fund(XLP)$ $Cboe Volatility Index(VIX)$

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https://x.com/SmartReversals/status/1799915530926600254