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IWM Looks Exhausted on the Upside


Barring some sort of unexpected forthcoming bullish catalyst, the enclosed chart pattern of the iShares Russell 2000 Index (IWM) has the look of upside completion at yesterday’s high of 105.63.

That said, to confirm and lock in a meaningful near-term high, the IWM must break and sustain beneath 103.00.

As of this moment, I am getting signals that the IWM is finished and exhausted on the upside, and that a correction is approaching quickly.

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