FINANCIAL ICEBERG
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 TECHNICALS
Russell 2000 (TWOK ETF): Near Relative Breakout?
​April 5 2016 ( From TradingView )
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​The Situation
​
The Russel 2000 Index (TWOK ETF) is at Technical Crossroads to say 
​the least.

​​Here is some Technical Observations:​​​
​1) TWOK ETF is now at 17.5% from its bottom reached on February 11 2016 
​and SP500 (SPY ETF) is at only 13.9%​​​​. 
​
​​2) TWOK ETF from highest peak price (reached on June 23 2015) to the 
​lowest ​price yet (reached on ​February 11 2016) was 27.2% and only 15.2% for ​the Mighty SP500 (SPY ETF). ​​​​

​​​So the TWOK ETF outperformed tremendously lately the Mighty SP500 Index (SP ETF) on a relative basis (ratio of TWOK over SPY). Interesting to note that this ratio reached the bottom of this cycle on February 9 2016 and now at the resistance trendline that started back since September 17 2015. 
​(See first chart below - Red Trendline - Ellipse).

But the real interesting part is that as we are testing the resistance trendline on a relative basis, TWOK ETF just got above the previous breakdown trendline that started back since October 15 2015. ​This is a crucial technical zone and Bulls need to protect it at all costs. (See second chart below - Amber Trendline - Ellipse ).




​​





Russell 2000 (TWOK ETF): Near Relative Breakout?  $SPY, $IWM  #Trading #russell2000 #SP500 


Daily RATIO
TWOK ETF vs SPY ETF ( Candles )
​​20 DMA ( Yellow Line )
​50 DMA ( Red Line )​
200 DMA ( Green Line )​
​









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TWOK ETF
Daily Candles​ - Right Scale
​20 DMA ( Yellow Line ) 
​50 DMA ( Red Line ) 
200 DMA ( Green Line )



Financialiceberg.Com