The IWM, Russell 2000 small cap ETF, closed Thursday at a triple trendline juncture.
In the lower chart showing weekly bars, the IWM is sitting on the lower line of its channel going back to the 2009 low. In the upper left chart showing daily bars, the IWM is sitting on the lower line of its 15 month climbing channel. In the top right chart showing 210 minute bars, the IWM is sitting on the lower line of its 5 month horizontal channel.
The broad market's trading the past week has been constrained as uncertainty builds as to how this triple juncture will resolve itself in the Russell 2000.
Trade well my friends
Alan
