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IWM

iShares Trust Russell 2000 Index Fund

$150.55

-4.75 (-3.06%)

, RUT

Russell 2000 Index

$0.00

(0.00%)

15:43
03/22/19
03/22
15:43
03/22/19
15:43

On The Fly: Weekly technical notes for Russell 2000

For the week the Russell 2000 (RUT) is set to end lower, with price last at 1518 at time of writing. Like the S&P 500 (SPX), the Russell saw a big jump in prices on Thursday that then collapsed to a new low for the week. In the week ahead, the big support band to watch is at the 1500-1480 area. There is a potential bearish cup and handle on the daily chart that would trigger below 1500, which would be bearish for future price. Resistance is at the 1530-1550 area. Notably the Russell peaked in price more than a month ago, which may signal more difficult conditions ahead for markets more generally as it tends to lead in either direction. As with the S&P 500, the big drop in sector breadth is reflected in a deeply negative Financials group with additional under-performance in Consumer Discretionary and Consumer Staples.

IWM

iShares Trust Russell 2000 Index Fund

$150.55

-4.75 (-3.06%)

RUT

Russell 2000 Index

$0.00

(0.00%)

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