$IWM #smallcaps #RTY
You #memeStonks #stonks people, Be cautious of chop. The markets are at an inflection point this week.
*NO ONE* knows what direction they will go. Not even Portnoy.
Here is one chart I am watching.
You #memeStonks #stonks people, Be cautious of chop. The markets are at an inflection point this week.
*NO ONE* knows what direction they will go. Not even Portnoy.
Here is one chart I am watching.
This is the Russell 2000 Ishares ETF. Basically all the small caps that trade in the US (at least the ones included in the index).
That line on this chart shows you how at the beginning of the year, we broke above the YTD AVWAP for the index.
Come again?
That line on this chart shows you how at the beginning of the year, we broke above the YTD AVWAP for the index.
Come again?
YTD = Year to Date
AVWAP = Anchored Volume Weighted Average Price.
But then, last week we started testing it. And on Friday we closed below it. That meant that *on average* everyone who bought the index this year was under water.
NO BUENO!
AVWAP = Anchored Volume Weighted Average Price.
But then, last week we started testing it. And on Friday we closed below it. That meant that *on average* everyone who bought the index this year was under water.
NO BUENO!
Today, we are rallying, but now we are coming right back into that AVWAP. If $IWM closes above that VWAP, that is a bullish sign. A close below is bearish. Both = chop.
HTH!
HTH!
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