$IWM - Significant Breach to the Higher Band
$iShares Russell 2000 ETF(IWM)$ - Significant Breach to the Higher Band
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In addition to the daily gap presented in a previous post for small caps, and an overbought condition relative to the Bollinger bands, the situation is more significant in the weekly timeframe. Observe previous occurrences highlighted, one more green week is the maximum continuation than this overbought condition can sustain before a healthy pullback.
The sooner the better: When there has been a second weekly candle above the bands the pullback has been significant, and this beast travels from band to band, or at least from band to 20 weekly average.
For the cup with handle lovers, it's time for the handle.
Let me know if interested in an explanation of the cup with handle formation writing "interested". I've posted educational notes about it with $Alphabet(GOOG)$ $Alphabet(GOOGL)$ $Spotify Technology S.A.(SPOT)$ $Palantir Technologies Inc.(PLTR)$
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- tongfee·11-11InterestedLikeReport