Small Caps Are Attempting A 20-Year Breakout (IWM)

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August 18, 2018 6:22am NYSE:IWM

From Chris Kimble: The Russell 2000 trend remains solidly higher, as it has created a series of higher lows and higher highs inside of rising channel (1) over the past 25-years.


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Small caps have been an upside leader in 2018, as they are very near all-time highs.

We applied Fibonacci extension levels to the 2007 highs and 2009 lows at each (2).

Joe Friday Just The Facts Ma’am- Small caps are attempting a dual breakout at (3). 

This is a price point that small-cap bulls would LOVE to see strength and a breakout take place, as monthly momentum is lofty.

The iShares Russell 2000 Index ETF (IWM) closed at $168.35 on Friday, up $0.72 (+0.43%). Year-to-date, IWM has gained 10.68%, versus a 7.25% rise in the benchmark S&P 500 index during the same period.

IWM currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #1 of 41 ETFs in the Small Cap Blend ETFs category.


This article is brought to you courtesy of Kimble Charting Solutions.


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