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Russell 2000 Holds Below Resistance

|Includes:iShares Russell 2000 ETF (IWM)

The Russell 2000 opened below the 114.00 axis line (resistance level) as shown by the iShares Russell 2000 ETF (NYSEARCA:IWM).

Today's price action could not penetrate the resistance area to the upside and the down-trend remains intact (although being tested).

IWM Daily Chart

Chart by TeleChart

If the down-trend line is penetrated to the upside in the next session, then the current move (lower) in the IWM may be complete.

Disclosure: The author is long TZA.

Additional disclosure: For illustration only. Not investment advice

Stocks: IWM