IWM & SPY in Precarious Near-Term Technical Positions

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Both iShares Russell 2000 (IWM) and SPY (lower chart) are in tenuous technical positions right now.

IWM has violated key support at 134.80/40, but has yet to follow-through to the downside, while SPY is probing, piercing, its Nov support line.

Let’s see if the bears can get any traction to the downside after inflicting initial technical damage.

full-1r3IMTwcf0XH995S17BBsOriginally published on MPTrader.com.