The Russell 2000 has just bottomed! Here's WhyAMEX:IWM CAPITALCOM:RTY AMEX:TNA 🤏🧢
Here I am, standing before you again, putting my name on the line and going against the GRAIN and telling you I believe we just bottomed on the AMEX:IWM
The Russell 2000 is front-running this pullback and we are about to see a bounce next week and BIG push into year end! Here's WHY 👇
Before we take a look under the hood of the car lets talk about the weekly chart. Everything is still good: H5 Indicator is GREEN, Williams Consolidation Box is thriving, and we are on the volume shelf. Now lets take a look under the hood at the daily chart. 👇
Daily Chart Analysis:
-Most important we are at the bottom of our Wr% Range and at the Green support bounce zone. As you can see every time we've been here over the last three months we've bounced for an average of 9%.
-We broke down through our first level at $238 and are right at what I believe to be the final boss before we have our move higher. Why? Simple $234.66 is the previous ATH dated back to the end of 2021. So, I'm coming at you for the 100th time so it's engrained in your brain: A break of prior RESISTANCE needs a retest in order to FLIP it into SUPPORT. This is what I believe we are doing at this time at the second level of right under $235ish.
-You may be asking yourself well how come we don't go down to the $228 level. Great question, it could happen but I don't believe it's a strong probability for the reasons laid out above and the fact that we've already flipped that area from resistance to support. Also, we would be caught up in a Anchored volume profile GAP that measures down to $220 and I don't believe we are at that level of a crash instead of a pullback...yet!
-Speaking of Anchored Volume Profile Shelves we are currently holding on to this one even at the Level 2 support area.
-As I always say we could Lit grab/ flash crash down to the weekly 9ema that sits right around $232 before we fake out to the down side and push back higher towards ATH into year end.
In summary, I believe the AMEX:IWM has just bottomed and we’re poised for a bounce next week with a strong push into year-end. The Russell 2000 is leading this pullback, and both weekly and daily charts show positive indicators. With our H5 Indicator green and strong support levels holding, we’re ready to break higher.
🔜🎯$259
🎯$306
Not financial advice.
IWM trade ideas
$IWM Today's Trading Range for 12.5.24IWM
We've been consolidating ever since making new all-time highs for the first time in three years last week. This week so far, we've been shopping around the 35 EMA but holding above that up gap from where we made all-time highs last week. So, to the upside, the first level to look for is going to be around 243; that's where we've been seeing resistance after making all-time highs. Then, 244 is the top of the implied move, and we also have those previous all-time highs in the trading range at 244.98.
Underneath us, we have that 35 EMA, and then under that, we have an up gap from last week. Then, 238 is the bottom of the implied move, and 237 on Friday's contract with the 30-minute 200 moving average underneath that, with completely flat momentum.
$IWM Recap for 12.4.24IWM stayed close to the 35 EMA today. We did drop again to that open up gap that we tested the day before and we did find that as support to close in the green up .36%.
So doing a little consolidation here after making those new all-time highs, we consolidated back to 35 EMA and reset the indicator. The weird thing is that 30 minute 200 moving average is just completely flat, momentum is gone.
Russell 2000 Small Caps (IWM) Breakout cup and handle on RUTRussell 2000 Small Caps TVC:RUT and AMEX:IWM on the Cusp of a Breakout?
The Russell 2000 small-cap index, tracked by the iShares Russell 2000 ETF (IWM), is forming a cup and handle pattern. This technical formation could be indicative of a significant breakout.
Key Levels to Watch:
Resistance: $230-$232
Support: $220-$222
A decisive close above $234 confirmed the breakout, potentially leading to further upside. Conversely, a failure to hold above $220 could negate the pattern.
Keep a close eye on IWM as it navigates this critical juncture.
Small Caps RunningIWM Russell 2000 is running. It had a nice pull back from December 2021 through December 2023 where the tide or sentiment has changed. It is testing new highs and has broken through into new higher highs from the S&R line at $230. There is much sentiment for it to gain higher gains and continue its bull run.
Opening (IRA): IWM Dec 20th 195 Covered Call... for a 193.79 debit.
Comments: Re-upping with a monied covered call in the December 20th expiry at a strike that is slightly higher than the one I just took off to "capture" the next little increment of up move that I missed out on. I'm not expecting much out of this (it has a 1.21 max), but didn't want to set up my tent in January yet either.
IWM set to outperform in 2025 with strong growth potentialThe iShares Russell 2000 ETF (IWM) provides exposure to small-cap stocks, which historically perform well during economic expansions, often outperforming large-cap indices like the S&P 500. With the potential for a lowering interest rate environment, IWM is positioned to outperform the S&P 500 in the coming year. Recently, it breached a key historical resistance around $235, signaling potential for further growth toward a target range of $300-$350 by 2025. Additionally, IWM is showing a unique bullish pattern that other major ETFs like SPY and QQQ are not currently offering, positioning it to build on its recent momentum and continue its upward trend.
However, while IWM may offer stronger returns in the short term, it has faced notable drawdowns in the past. Its small-cap focus makes it more vulnerable to economic slowdowns and rising interest rates, which could dampen its performance during periods of tight monetary policies. Despite these risks, the current economic conditions appear favorable for small-cap growth, enhancing IWM’s outlook.
$IWM Trading Range for 11.16.24All right and I WM the implied move is between 239 and 246. On Fridays half-day 238 to 247. And in tomorrow’s trading range is the only levels in there. Are that up gap from today 35 EMA within that gap, which looks like a great place for support and then the new all-time highs which a line right with the top of the implied move so I have a feeling will be trading between that 35 EMA And all-time highs. Looks like a pretty straightforward trading day and options are calling for a pretty slow day with a lower average volatility.
$IWM Today's Trading Range 11.25.24IWM is trying so hard to make those new all-time highs. We’re not far away from those highs made three years ago and today’s gap up was definitely a push and attempt to do that. We are definitely overbought here. Keep an eye on the 35 EMA if it does cross up in the rain today, expect a pull back and if not , then maybe tomorrow will hit those all-time highs. At that point I think will be pretty exhausted with this run. I know I’ll be a seller at all time.
Entering a Bull Market for the Russell 2000From a weekly chart perspective, the Russell 2000 ETF is showing a rounded bottom formation. Coupled with Trump-era policies encouraging reshoring and boosting local consumption, this has been a positive catalyst for small-cap stocks.
While the S&P 500 remains strong, the Nasdaq, particularly tech stocks like semiconductors, has already experienced varying degrees of pullback.
Market insights & Where we are heading on the $QQQ $SPY $IWM 📊 Market Insights & Future Trends: NASDAQ:QQQ AMEX:SPY AMEX:IWM
In this must-watch video, we’re diving deep into:
Market Direction: Projections for where the markets are heading this week into year-end.
Potential Catalysts: Key events and factors that could cause significant market shifts.
My Secret Tools & Strategies: An inside look at the methods I use to anticipate market moves.
Ready to get ahead of the game? Let’s dive in and uncover the insights you need to stay informed and strategic!
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$IWM Analysis, Key Levels & Targets - 229/228 bull puts hereAll right, we have the first candle down and we are halfway down the implied move and falling. We are oversold here in the next level of support is at 229 paired with that 30min 200MA so I’m thinking that is where we might settle for the day. 229 / 228 bull put spreads? My .25 order filled and I have orders at .45 and .5
Triple Bottom Pattern Tutorial: 5/8 Bullish Chart PatternsTriple Bottom Pattern Tutorial: 5/8 Bullish Chart Patterns
A bullish triple bottom is a reversal chart pattern that signals the potential end of a downtrend and the start of an upward trend. Here's a breakdown:
Three Lows: The pattern is characterized by three distinct lows that are roughly equal in price. These lows form after a significant downtrend, indicating strong support at that level.
Rallies Between Lows: Each low is separated by two intermediate rallies that create peaks. These peaks form the resistance level known as the neckline.
Neckline: The horizontal line connecting the highs of the intermediate rallies is called the neckline. This is a crucial resistance level that the price must break through to confirm the pattern.
Breakout: A breakout above the neckline, typically accompanied by increased trading volume, confirms the triple bottom pattern. This breakout signifies a shift in market sentiment from bearish to bullish.
Price Target: The expected price target is often calculated by measuring the distance from the pattern's lowest low to the neckline and projecting that distance upwards from the breakout point.
Traders view the triple bottom as a strong indication that the selling pressure has been exhausted and that buyers are starting to gain control, suggesting a potential upward price movement.
$IWM ANALYSIS, KEY LEVELS & TARGETS for Day Traders for 11.11.24All right, so I WM is holding at the top of the implied move right now and above the election gap from last week, clearly. We’re at the top of the implied move here so I’m thinking we’re at the high of the day and that 35 EMA is down there in the Read looking like a really good target. Sorry that there was no video last night. I will definitely get one out tonight and good luck guys.
Also know that we are just underneath all-time highs which is around 244.5 (a few pennies under that) in my opinion I think we see that as resistance and that is due to the idea of tariffs and things getting more expensive in the near future. Small caps will be hit the hardest by tariffs and I think this is gonna be a double top for a IWM. One day at a time for sure, and that is just my opinion, but just know that all-time highs are near and just outside of the implied move for the next two days