Folks, sorry for the delay but was on the Outer Banks w/ family and ZERO access to email, VM, texts and NO cell phone … recommend it if you get the chance! 🙂
That being said, I did get my daily fix on the markets thru Fox Business or CNBC and laughed to myself w/ regard to the “under performance” of the Small Caps and the focus on IWM and it’s relative strength. Why? Well here’s the blog post on the IWM:
- http://bartscharts.com//?s=iwm (if you search for IWM on Bartscharts.com this is the result.)
- all the way back in late November we were talking about the PATTERN that was appearing in/around 113-120 on IWM.
Appears that pattern has hit, looks/feels like it’s working. However, all of the analysis around IWM doesn’t mean anything until a swing low is broken. Let’s watch the swing low noted below for keys.