Saturday, February 18, 2017 12:43:03 PM
Watching the Breakout Zone in IJR
The S&P SmallCap iShares (IJR) finally caught fire with a surge and flag breakout. Even though small-cap High-Low Percent is lagging, I will treat the breakout as bullish until there is evidence to the contrary. The breakout zone around 69 becomes the first area to watch for a breakout failure. I would not view a breakout failure as bearish. It would just suggest that IJR may need more time correcting within the bigger uptrend.
The S&P SmallCap iShares (IJR) finally caught fire with a surge and flag breakout. Even though small-cap High-Low Percent is lagging, I will treat the breakout as bullish until there is evidence to the contrary. The breakout zone around 69 becomes the first area to watch for a breakout failure. I would not view a breakout failure as bearish. It would just suggest that IJR may need more time correcting within the bigger uptrend.
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