IWM breakdown

26 באוק׳ 2023

IWM weekly chart looking very weak. It has been in a distributive range for almost 18 months now, making lower highs and holding a buy wall. After such a long period of consolidation could believe there is significant follow through on this move in time. Doesn’t send a great signal for the economy, yes the market is not the economy but usually small caps struggle when the economy struggles.