IWM Daily Chart - The current candle doesn't suggest immediate weakness
$iShares Russell 2000 ETF(IWM)$ Today's "Level Up Your Trading" educational content focuses on volume at price. This indicator is particularly relevant for small-cap stocks like IWM, as evidenced by the base formed from $202 when zooming in on the past month's price action.
The current candle, along with shorter timeframes, doesn't suggest immediate weakness for IWM. The potential hurdle could come from TNX as discussed in the previous chart posted. The gap left unfilled on the 10 year note may be filled soon, maybe affecting growth stocks.
The bullish crossover between 20 and 50DMA is positive for the Russell2000. The weekly chart (homework for you) presents better the consolidation in progress during the last weeks. 20MA has to hold.
$SPDR S&P 500 ETF Trust(SPY)$ $Invesco QQQ(QQQ)$
Image
https://x.com/SmartReversals/status/1798473040931573849
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
- Ericdao·06-10Don't look goodLikeReport