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$IWM Begins Correction, Here Is The Buy Entry Price Target

|Includes: iShares Russell 2000 ETF (IWM)

The Russell 2000 ETF $IWM is finally pulling back after a 20% move to the upside. While the correction is just starting, investors are eager to buy the pull back. I did some chart analysis to find out where the target of the pull back would be. With the $IWM currently trading $136.75, there is still quite a bit of downside. The target where $IWM gets interesting as a buy is $125.00. This is a former major pivot high as well as a Fibonacci 61.8% retrace level. If the Russell ETF $IWM fell straight to $125, I would buy for a hard bounce off of it. This would only be a quick trade though, as the stock market is over-valued.

Investors see Russell 2000 stock chart begin correction