Russell At A Major Crossroad

Good afternoon everyone.  This is Patrick Assalone, Prosper Trading’s stock market index expert.  Today I am looking at the Russell 2000 ETF, IWM.  IWM is an exchange-traded fund of US stocks that tracks the Russell 2000 index, in the iShares ETF family. IWM is used by day traders and investors alike to gain access to the small-cap segment of US stocks. It is highly liquid.

This MarketProfile (MP) chart is today’s chart for IWM.  It is showing us current volume at price:

The only real opportunity would be first attempt short @ 153.30 area

If IWM breaks out above that price, I will be looking long only.

Tomorrow should be another interesting day.