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ETF in Focus: IWM

|Includes: iShares Russell 2000 ETF (IWM), TNA, TZA

 So far in 2011 there has been some interesting repeating phenomena in the Daily Russell 2000 iShares Index Exchange Traded Fund symbol IWM.  The 50 day Simple Moving Average has been tested and held multiple times where I have drawn ovals on the attached chart. The “SMA” is explained at as follows:

A moving average that is calculated by adding the closing price of the security for a number of time periods and then dividing this total by the number of time periods. Short-term averages respond quickly to changes in the price of the underlying, while long-term averages are slow to react.
 In other words, this is the average stock price over a certain period of time. Short-term averages (e.g. 15-period SMA) act as levels of support when the price experiences a pullback. Support levels become stronger and more significant as the number of time periods used in the calculations increases....READ MORE