IWM, monthly, bullish outlook
The Rus'2000 index is still lagging the Sp'500, and especially the dow, but the trend remains up.
From a MACD cycle perspective, I am looking for a smaller tower/block to form in the coming 2-3 months, and then rollover. From a price perspective, I'm still looking for a break over the key level of 86...and then peak somewhere in the region of 90/92..within a few months - this would equate to sp'1550 by June/July.
Such words will not be pleasing to any of the doomers out there, but for the moment, the trend is indisputably STILL up.
Unless the jobs data - or other weekend news event/story upsets the main market, the IWM 81/80 level will hold, and we'll soon snap up to 86..and a significant break through to even higher levels.
Goodnight.