IWM - 50DMA has rejected price action for three consecutive weeks
$iShares Russell 2000 ETF(IWM)$ : The 50-day moving average has rejected price action for three consecutive weeks.
The last time a moving average so strongly influenced price action, it was the 10-day MA, which resulted in a significant sell-off.
➡️Following the recent bounce from the lower Bollinger Band, I expect a retest of those lows. $223 at least, and $217 is possible.
$S&P 500(.SPX)$ $SPDR® S&P 500® ETF Trust(SPY.AU)$ $Invesco QQQ(QQQ)$ $Cboe Volatility Index(VIX)$
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