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IWM Lagging Behind S&P and NASDAQ

Written By: ChartChamp

May 31, 2024

The IWM is trending for a moderately strong monthly candle close. SPY and QQQ are showing a lot more strength at the moment, but IWM has a lot more upside once it breaks through the red resistance zone. IWM is currently showing some bullish momentum headed into the red resistance zone for another attempt to form a bullish breakout. This breakout is looking promising in June. The media usually lies, but it seems like they are being truthful about a June rally for small cap stocks.

IWM Weak Monthly Close

IWM did not have a bullish monthly candle close, but has some room to climb up to reach previous all time highs. $210 remains as a key resistance level to break in June.

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