Don't Ignore This Chart!

Marking Momentum Support for the Russell 2000 ETF

Arthur Hill

Arthur Hill

Chief Technical Strategist, TrendInvestorPro.com



The Russell 2000 ETF (IWM) surged to a new high with two long white candlesticks. Notice how the ETF opened weak on Monday and then moved higher and exceeded the September high. Also notice how StochRSI held support at .50 and moved back above .80 today. Chartists can now mark momentum support at .50 on the chart.

131001iwmd
Click this image for a live chart

Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More