[Mish's Daily] Which Symbols to Watch if Russell 2000 (IWM) Clears Key Resistance

August 23, 2021
Which Symbols to Watch if Russell 2000 (IWM) Clears Key Resistance
Written by Forrest Crist-Ruiz

Monday the market continued its rally from Friday of last week with the S&P 500 (SPY) and Nasdaq 100 (QQQ) clearing all-time highs.

Again, the tech sector and large-cap stocks are leading the market higher.

However, we should not forget about the Russell 2000 small-cap index (IWM).

IWM has currently moved into a choppy area from $217-225 and will need to clear $225 resistance to prove that the small-cap index can catch up.

Looking forward, If IWM can break key resistance, we should keep an eye on its top holdings as they could get an extra boost from the entire index moving up.

Bye for now,

Mish and Forrest

MICHELE SCHNEIDER
Director of Research & Education
MarketGauge

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