My notes on the iShares Russell 2000 Index ETF (IWM) chart below were first designed to illustrate the significance of levels associated with round number year-to-date (YTD) gains (such as +10%, +20% and +25%). But as I studied the chart more carefully, I couldn't help but notice a couple of other phenomena:
I didn't include the +15% YTD level, because I don't pay much attention to +15% YTD in my own analysis. But I did show a Fibonacci +31.8% YTD level, though I have only recently started looking at such a YTD level as having potential significance, driven mostly by the fact that so many stocks are now above +25% YTD (and I've never attached much significance to such levels as +30% and +33%). And I thought it was also a little bit cool that the most recent IWM peak came in around this +31.8% level, and was followed by a pullback of almost 5%.
The One Overseas Market That's Trending Higher in 2014
Featured Partners: AOL DailyFinance
© 2014 Schaeffer's Investment Research, Inc. 5151 Pfeiffer Road, Suite 250, Cincinnati, Ohio 45242
Phone: (800) 448-2080 FAX: (513) 589-3810 Int'l Callers: (513) 589-3800 Email: email@example.com
All Rights Reserved. Unauthorized reproduction of any SIR publication is strictly prohibited.
Market Data provided by QuoteMedia.com | Data delayed 15-20 minutes unless otherwise indicated.