IWM Takes Off
|IWM certainly has exploded into a vicious upmove that amounts to a 1.7% thrust compared with a SPY upmove today of 0.8%, and certainly looks like it ended its 5 week correction now that the price structure has blasted above the 5 DMA, now at 148.63. A close above the 20 DMA, now at 148.05 will be further evidence of a significant upside reversal into a new upleg.
The near term chart of the iWM/SPY Ratio shows that IWM has launched into a "recovery rally" after a significant downleg. That said, the chart continues to argue that IWM remains challenged in relation to its BIG CAP brethren, and continues to bear watching as the two indices appear to have entered a new upleg within their larger, dominant bull trends.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.