Wednesday, August 06, 2014 10:08:02 AM
IWM 60 BY ART HILL
IWM got a pretty nice bounce on Monday, but the overall downtrend remains and the ETF continues to show relative weakness.
At this point, IWM needs to break the early July trend line and exceed the late July high to fully reverse the downtrend.
The indicator window shows the price relative flattening out the last few weeks.
Even though relative weakness has slowed, a break above the red line is needed to show a return to relative strength
IWM got a pretty nice bounce on Monday, but the overall downtrend remains and the ETF continues to show relative weakness.
At this point, IWM needs to break the early July trend line and exceed the late July high to fully reverse the downtrend.
The indicator window shows the price relative flattening out the last few weeks.
Even though relative weakness has slowed, a break above the red line is needed to show a return to relative strength
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