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Weekly Update: Do Small Caps Still Lead the Broader Markets?We've all heard that the small capitalized publicly traded companies lead the larger cap companies, more so featured in the broader indices. A quick look back shows the Small Caps Topped in November 2021, whereas the Nasdaq and SP500 did not top till January 2022. Subsequently, the IWM bottomed in June of 2022, and it took the NDX and SPX till October of 2022 to form a bottom. So it appears we do not have to go back too far to see this phenomenon is still valid. If this price action of leading the broader markets continues to persist, then the IWM is now poised to literally "Drop like Rock". A quick observation shows the small caps are around their lows bouncing slightly for wave 2 in our primary c-wave down. You can read my prior posts on the SPX and NDX indices but it appears if you want to know if the recent bullish feeling rally in the DJIA, NDX and SP500 has sustainable legs...look no further than the IWM. Best to all, Chris
AMEX:IWMShort
by maikisch
Wave and Pattern "Force" in actionIWM wave and pattern force "action" or urges." Notice the 5 wave push down (not elliot) as revealed by the poc leveling off at w2 w4 consolidations. Then the down exhaustion and pop to the short seller zone just below "neutral unwound." The space between avwap from the top, and 50% range. Note where poc is. The three big horsemen w gravity, or magnetism. Price tends to unwind to neutral unwound and traders knowing that will tend to step in front "the shorter zone" to exit their longs off the bottom., to get filled. Then tends to "recommit." The common morph would be 12345 down, inverted h&s up to neutral unwound..wedge up and box consolidation up and probe for the week side. ONce the weak side is revealed they would tend to push into it. To a lesser extent they would trap at that point. It's tends to be rangers in charge 70-80% of the time and trender's (big order slow agenda) in charge 20-30% of the time. When one side asserts over the other there is usually a reaction w a biigger (market order chase price candle) as the other side has to "give in" and scramble for the exit an or flip sides. 50% retraces tend to rule, followed by avwap which gives bias to 50%, followed by poc which tends to give bias to each of the others. They tend to all comes within close proximity of each other as the day goes on. The days neutral unwound (50% range/vwap) tends to give bias to the opening 1 min range. If you run that neutral unwound range thru the day note how many times price moves thru it, to it on a normal range day, perhaps 10-20 times on say a 1,2,3 min chart. vs a trend day..may return to it or touch if 1-5 times.
AMEX:IWMEducation
by chartmojo
Calling all investors!Overview The Russell is at a potential attractive buy area for long-term investors. The Details The Russell ( FX:US2000 ) stock index is in a retrace move. Price is currently between the monthly 50 and 100 SMA's. Historically, buying when the price is between the moving averages has been a favourable entry area for long-term investments. Things to Consider Recession could be on the horizon for the US. This would likely drive prices lower, especially for the Russell 2000. Using an ETC, such as IWM, is often better for investing in stock indices than futures or OTC products. Other stock indices may decline further before reaching new highs. The positive correlation between stock indices could bring the US2000 down further.
AMEX:IWMLong
by Samuel_Morton_Trader