$IWM
Added 2023-11-03 21:20:29 +0000 UTCThis has been a wild ride for The Russell 2000 over the last week.
It lost the 0.5 Fib at $170 last week and we have seen that this has been lost over the last 2 years but it was recaptured very quickly.....so the $IWM needed to do the same....and boy did it bounce aggressively and get back above the 0.5 Fib at $170 and finished at $174 for the week.
$IWM has not looked as strong as the $SPY or $QQQ but if the market runs for the next few months, the small caps may run quite hard to catch up with them.
Wave 5 is all the way at $241, so there is a near 50% climb possible here over the next few months.
However, it is still early here, I would like to see this get back above the 50 and 200 Day MA first, as the $SPY and $QQQ both finished above theirs this week.
