$IWM Russell 2000 Small Caps index is following the $IWO Small Cap growth index into a potential Stage 4 decline, with a breakdown attempt today.
The daily chart shows the Stage 4 breakdown attempt in more detail with the Wyckoff markup on the range, which has developed over most of the last year.
It could still potentially spring however, as the Stage 4 breakdown level is critical test of demand. But with other indexes breaking down, the current path of least resistance seems to be lower as fear begins to grip the broader market, which had been holding until the last few weeks.
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Disclaimer: For educational purpose only. Not investment advice. Seek professional advice from a financial advisor before making any investing decisions.