Investor Trade Alerts: Russell 2000 Finally At Top
The Russell 2000 ETF (IWM) has surged over 30% since October 30th, 2020. This is an investor trade alert as the Russell 2000 has lagged the S&P 500 and the Nasdaq 100 for the last few years. This epic run has now fully caught it up. Why is that so? Connect all the major pivot tops on the monthly chart (total of 4) from the lows in 2009 and the trend line extends to just above where the Russell 2000 ETF IWM is trading right now. In other words, another 1% upside on the IWM, and it will hit the major trend line. Historically, since 2009 this trend line has dictated major sell-offs on the Russell 2000.
Based on that logic, investors should expect a sharp pull back once tagged. In addition, this same trend line can be found on the S&P 500 and the Nasda 100 having been tagged recently. That is another signal the Russell 2000 has caught up to the other indexes. If looking to short the IWM, the even number of $200.00 looks promising as it also coincides with the Russell 2000 hitting $2,000.
(Click on image to enlarge)
Disclaimer: All comments made by InTheMoneyStocks, LLC and its subsidiaries, instructors, and representatives are for educational and informational purposes only and should not be construed as ...
more
Comments
