The small cap-index Russell 2000 (IWM) is hanging onto support from the 200-Week moving average at $176.19.

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Last week it dipped below the moving average with a low of $168.90.

With that said, it looks as though IWM is trying to find temporary support in this price area between $168 and 176.

If so, we should be careful of taking a full bearish stance through the coming week.

However, if we are going to look for a further breakdown let's watch for confirmation not only from IWM but two other important symbols.

Two ETFs we are watching are the Retail (XRT) and Transportation (IYT) sectors.

Together they can give insight into investor’s sentiment on basic supply and demand.

This can also help us confirm a breakdown if both follow IWM lower.

Like IWM, each is currently holding over its 200-WMA.

Additionally, from a momentum perspective, our RealMotion (RM) indicator found at the bottom of each chart is not showing any redeeming qualities as each symbol is either on or has already broken the lower band.

One thing to note is when RM is under the lower band this shows the symbol is in oversold territory.

However, a downward trending symbol can easily make quick fake out signals by briefly jumping over the dotted line.

Therefore, if RM was going to show upside momentum, watch for the red dotted line to clear back over the lower band and begin to trend upwards.

Moreover, come Monday, if these symbols continue to hold over support from the 200-WMA, stay cautious of shorting the market as we could get a quick pop to the upside.

While market weakness looks to continue from a fundamental standpoint, these pivotal areas in price can have a large amount of volatility which can easily shake short-term traders out of the market.