$IWM
Added 2024-06-06 13:55:39 +0000 UTCPeople find it difficult to comprehend how the $IWM can move higher in an impulse wave if we expect the $SPY and $QQQ to shortly complete its Wave 5 of its impulse wave.....but very little is questioned as to why $IWM has not been following the $SPY over the last 18 months and spent a lot of its time consolidating along the $161 line.
We need to constantly remind ourselves that different sectors and markets can be out of sync with each other, especially when you narrow in on a particular time frame.
There is no reason why we can not see a strong rotation in Small Caps when the $SPY and $QQQ starts its correction....as $IWM has already been lagging these two.
The set up here is also as bullish as you can get too
Pull backed comfortably to the 0.38 Fib and 200 Day MA and bounced strong, also back out of the range it was consolidating in over 18 months.
$IWM could be ready to have its moment and no changes here to our projection.
