iShares Russell 2000 Fund (IWM)

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iShares Russell 2000 Fund (IWM)

Look like we will have lower low or a test of a trend line.  Not yet a buy and hold.

Let's compare the MTUM chart above with another favorite of mine, the iShares Russell 2000 Fund (IWM). This fund is a way to track U.S. small-cap stocks...

From the high, I used three trend lines instead of two. You can measure from the absolute high and important swing highs as the market trends lower. If you follow the trends down, you'll see how the bottom two trend lines marked important swing highs for IWM.

The takeaway is that you shouldn't just rely on one trend line – you have to use several to get a better idea of where resistance will be within a downtrend. Like MTUM, IWM is in a downtrend that's marked by lower highs... It made a lower low last week and is still below its 200-DMA.

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