Let’s look at two ETFs with something important in common: their sinewaves. More specifically, the upper and lower extremes of these patterns, which by definition are a range. The first is the small caps fund, IWM, which has been range-bound for about two years, and today came THIS close (but not quite!) to breaking above its highest level, which remains set at March 29, 2022.
The other item, retail, symbol XRT, broke its range just a few days ago, meaning the sinewave at this point is pretty much a moot point.
So the question before us: will the IWM pull the same stunt, or is the XRT going to realize it has made a dreadful mistake and tumble back into its former range?
