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Russell 2000 (TWOK ETF): At Technical Crossroads?
​July 12 2016 ( From TradingView )
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​The Situation

The Russel 2000 Index (TWOK ETF) is at Technical Croosroads ​to ​say the
least. Already, the SP500 Index (SPY ETF) is in Breakout mode since July 8.
(See First Chart Below - Ellipse)​

​​Here is some Technical Observations:​​​
​1) TWOK ETF is now at 24.5% (unadjusted for dividends) from its bottom
​reached on February 11 2016
​and SP500 (SPY ETF) is at only 16.7%​​​​.

​​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). ​​​​

TWOK ETF had its first Breakout mode on May 24 2016 as it went over a Major Resistance Trendline that started since June 23 2105. (See Second Chart Below - Grey Trendline)
It ​is still trading within a large Downtrend Channel since May 19 2016. ​(See second chart below - Channel).

​​​​​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.

​​But the real interesting part is that it is that at a time were the TWOK ETF is testing price wise its resistance trendline, it is near breaking the major resistance trendline on a relative basis that started back since June 2015. ​(See Third Chart Below - Blue Trendline - Ellipse).
​ 
IF able to break that relative resistance, TWOK ETF should continue to out perform tremendously the SPY ETF.
Next few trading sessions are critical for TWOK ETF.​​






​​

Russell 2000 (TWOK ETF): A Runaway Train?  $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 )​


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


Financialiceberg.Com
SPY ETF
Daily Candles​ - Right Scale
​20 DMA ( Yellow Line )
​50 DMA ( Red Line )
200 DMA ( Green Line )


Financialiceberg.Com