Blake Morrow’s Chart of The Day – Forecast IWM
Forecast IWM
The mid cap stock market is represented by the Russell 2000 (or IWM) has been in a tight trading range for all of 2021. That range is tightening in a triangle as the 200dma weaves inside the consolidation. This is a receipt for a big move in the coming weeks. A break of the 217 or 227 level should illicit some very strong buying or selling, so everyone should keep at least “one eye” on this index at all times.
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