IWM thoughts. I I gotta watch it more. I've just been watching the Q's, but it's strong. I wouldn't go against that. I wouldn't go against anything right now.
And then the IWM, bearish trend, break of structure to the downside. Don't have the lower lower lows and lower highs yet.
I've got I've got bearish indications across the board. SPY Q's IWM, all lower highs, lower lows, all breaks of structure to the downside, all in a bare trend.
The reason for this depends on the charts that I will show you while looking at FEZ, XRT and the Russell indicator.
Let's look at Russell's index here; that tells a completely different story. The Russell index is much weaker. Hmm, some people are asking me why the Russell index is so weak, and why it is declining so sharply during this period.
The Russell index is moving downwards due to the interest rate situation. If 10-year Treasury yields reach 5%, the earnings of more than a third of Russell Index companies with variable-interest debt will be hurt, and a significant portion of Russell stocks are already losing money.
Let's also check the IWM here real quick and see how that's doing today. So, IWM, this is interesting. IWM forming a double bottom here around 2926065. Be very interesting to see if IWM can reverse this as well.
IWM pulled and I see a lot of the smaller names pulling too. That had me wondering if it was something rate uh wise.
But it seems that it's the IWM that looks the most bullish right now. Let's take a look at this. So indeed IWM bullish trend edge higher highs and higher lows and a break of structure.
Indeed right in here. Break of structure to the upside. So at the moment right now index gate says risk on IWM looks like calls are a go here.
