The Russell 2,000 ETF ($IWM) is experiencing a significant downturn, down 6.05% year-to-date in 2024. The price is testing the 20-day moving average and approaching a critical decision area around $188.66. Breaking below both on a closing basis could lead to re-testing $180 and potentially $171.50 if $180 does not hold. The most heavily shorted stocks in the Russell 1,000 have experienced a sharp decline, with the 100 most heavily shorted stocks down 8.7% year-to-date on average. Traders are closely monitoring $IWM's ability to hold onto the 188 zone support as an indicator for the broader market.
$IWM due for a mini bounce soon. Down 11 of last 13 days. Near the 50dma. If it gets there would be a good entry.
$IWM trying to hold onto 188 zone support. Keep an eye on this going forward as it has been a good tell for market. https://t.co/iirM6O4bex
The most heavily shorted stocks have gotten hit hard to start 2024 relative to the rest of the market. The 100 most heavily shorted stocks in the Russell 1,000 were down 8.7% YTD on average yesterday versus an average gain of 0.41% YTD for the 100 least heavily shorted names. https://t.co/uAcNmtQDPn
The Russell 2,000 ETF $IWM is down another 1.2% pre-market ahead of today's open, which would put it down 6.05% YTD already at 11 trading days into 2024.
Call them the Sorry Seven: These 7 publicly companies lost the most value last year. https://t.co/pn9FOlqT6h
Quite the fake breakout from $IWM! π³ Price is now testing the 20-week moving average and approaching a key area of decision around $188.66. Breaking below both on a closing basis likely has the small cap ETF re-testing $180 and then potentially $171.50 should $180 not hold. πβ¦ https://t.co/sBVitpg8CR
Quite the fake breakout from $IWM! π³ Price is now testing the 20-day moving average and approaching a key area of decision around $188.66. Breaking below both on a closing basis likely has the small cap ETF re-testing $180 and then potentially $171.50 should $180 not hold. πβ¦ https://t.co/qco6eZknAy