MARKET UPDATE: $IWM

If todays trading holds up, Small Caps are in breakout mode as the IWM has decisively pulled away from its long basing pattern. Here is a portion from our Weekend Trading Review this past weekend..”The Russell 2000 has shot up over 7% from its  August 18th low without much of a rest and stopped Friday virtually on the breakout level closing at 144.30. Common logic dictates some sort of a consolidation may be in the cards after such a move, but markets have a tendency to eat up logic and spit it out in the form of your equity. This is why we assess the markets constantly……

-CJ

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