IWM Chart Note: Nearing Important Price Zone

Stock Charts, Chartology, See It Market, seeitmarketBy Brad Tompkins
I was running through some charts late yesterday and noticed that IWM (Russell 2000 iShares) is nearing an important support/resistance confluence zone.

The reaction over the next week or two will tell us more about whether or not we’ll see a year-end rally. So keep an eye on the small caps. See chart below.

iwm, russell 2000, small caps, chart analysis, technical analysis, support, resistance, november 15, 2012


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No position in any of the securities mentioned at the time of publication.

Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.