Monday, April 15, 2013

The Russell 2000 (small caps) broke hard today

In today's lovely daily candlestick, IWM broke through two seemingly important price points and more importantly  its flattening 50 dma.  The small cap ETF did all of this on 100M shares traded, second only to the first trading day of the year (~3x avg vol).  This now brings into focus previous a previous area of support around ~$89, then nothing but air for another -$4.

Disclosure:  I own TWM (inverse IWM)

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