We saw how shallow the $SPY and $QQQ pulled back for Subwave 2 and the $IWM is being a little more reasonable by pulling back to just below the 0.38 Fib and found support on the 50 Day MA....this is within the realms of acceptability to complete Wave 2 now....especially with how $SPY and $QQQ behaved.
This may be an ETF that will be attractive to those who may not have bought any of the Mega Caps yet or a market ETF.