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IWM Breaks Higher

Published 02/14/2017, 12:43 AM
Updated 07/09/2023, 06:31 AM

"The man who does more than he is paid for will soon be paid for more than he does." - Napolean Hill

More great action on this very stormy Monday in my parts, which saw iShares Russell 2000 (NYSE:IWM) definitively, for now, breakout of the nice long flat channel it’s been working on.

With SPDR S&P 500 (NYSE:SPY) IWM and PowerShares QQQ Trust Series 1 (NASDAQ:QQQ) all breaking nicely higher out of bases I don’t much other than upwards action coming our way, still.

Stay with the trend.

SPY February-14-2017 Chart

The breakout is holding and accelerating, leaving shorts holding the bag.

Lower volume on this breakout isn’t worrying at this time.

The trend remains up.

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