IWM Rally Confirms Weekly Compass Call: +5.5% Breakout Above 20DMA

SmartReversals
11-30

$iShares Russell 2000 ETF(IWM)$ was my top pick in last Saturday's Weekly Compass due to an immaculate weekly technical setup.

The daily chart now confirms that view after a +5.5% rally with a bullish MACD cross and a breakout above the 20DMA. Subscribers secured a clean entry on Monday above the central weekly level of $234.5. While new risk management levels are set for next week, the technicals strongly suggest this rally has legs.

This bullish call came before the breadth thrust conversations when the rally was in. Price action is primal, do you want theory or actual calls before the price moves? Subscribe and get my eBook on technical indicators!

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