The Russell 2000 ETF (IWM) led the major index ETFs lower this week with a decline to its January lows. The ETF is testing support from these lows and showing relative weakness. Notice the Price Relative in the lower window. This indicator turned sharply lower this week and broke the August trendline.
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About the author:
Arthur Hill, 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.
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