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IWM Starting to Show Some Bullish Momentum

IWM has been struggling to form a bullish breakout, which is one of the reasons why small cap stocks have continued to struggle. The stock market rally has been led by AI and tech stocks while most of the stock market has experienced little upside. With this trend in mind, it is best to prioritize AI and tech stocks especially with NVDA forming a major AI bubble. I think IWM is starting to show some strength here, and is likely to attempt another bullish breakout of the red zone. We’ll see if this breakout is successful, and this timing aligns well with a strong rally in July.

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