The small-cap Russell 2,000 ($IWM) has seen a surge in call volume, with a gain of 2.5% today, making a new 52-week high after hitting a 52-week low just 48 days ago. It is now 10.6% above its 50-DMA, making it the most extended among major US index ETFs. This surge is attributed to seasonality favoring the Russell 2000 in December and February, and speculation by investors. The performance of $IWM has raised questions about its impact on the stock market, especially in light of the bearish reversal of $NDX today.
Here's a great stat for you: The small-cap Russell 2,000 made a new 52-week high today after hitting a 52-week low just 48 days ago. That's the shortest turnaround time in the index's history to go from 52-week low to 52-week high dating back to the 1970s! $IWM #markets
It seems this may be the big qstn for #stocks period $IWM and esp given $NDX bearish reversal today $QQQ https://t.co/66m0ECU7f3
It seems this may be the big qstn for stocks period $IWM esp given $NDX bearish reversal today $QQQ https://t.co/zZuwTUz9mb
Who else can remember a day that had QQQ down and IWM up almost 3%?
The small-cap Russell 2,000 $IWM has exploded out of the gate this morning with a gain of 2.5% versus just 44 bps for $SPY.
Every major US index ETF across our Trend Analyzer began the day at least 6% above its 50-DMA. All are either overbought or extreme overbought based on standard deviations above their 50-DMAs. Small-caps now the most extended with $IWM 10.6% above its 50-DMA.
$IWM call volume continues to surge as small caps become a popular choice for speculators Seasonality favors the Russell 2000 in both December and February for strong returns Seems we're right on track (and seasonality is once again playing a role) https://t.co/ppiXkt3fyr