IWM — 7 entries on this page, 0 of them a change of direction.
And so, if you look at the IWM, the small caps, you're going to see a lot of weakness.
And one other index I'm showing you is this small caps IWM, uh the Russell 2000. And that is showing a lot of weakness.
Let's also check the IWM here real quick and see how that's doing today. So, IWM, this is interesting. IWM forming a double bottom here around 2926065. Be very interesting to see if IWM can reverse this as well.
IWM pulled and I see a lot of the smaller names pulling too. That had me wondering if it was something rate uh wise.
If you look at the weekly chart of the IWM, that's a weekly buy setup. Looks beautiful.
But it seems that it's the IWM that looks the most bullish right now. Let's take a look at this. So indeed IWM bullish trend edge higher highs and higher lows and a break of structure.
Indeed right in here. Break of structure to the upside. So at the moment right now index gate says risk on IWM looks like calls are a go here.
Earlier this year, we made a call on the Russell 2000 ETF, and it's up over 22%. We believe that the S&P 500 and QQQ could deliver lower returns over the next 10 or 15 years, but the Russell 2000 could be one of the best opportunities out there based on its history.
Okay, as we switch over to the small cap area, I do want to start out with the IWM. You can see what's taken place. I mean, this has been the best performer of the indexes this year and we've got relative strength to kind of prove that as this has made higher highs and higher lows really since the middle of last year.
It started to turn up and it's been holding the moving average. We want to see that to continue. We want to make sure that continues.
