IWV: sellers return in force after last week's rally
IWV slips 1.4% as sellers retake control after last week's volume surge
IWV: sellers return in force after last week's rally
Our view last week
iShares Russell 3000 ETF closes the week with 96% of volume on the buy side, a sharp jump after choppier weeks, while price is up just 1%. The weekly technical picture shows a trend losing steam — ADX and momentum have fallen for a fourth straight week — and price is boxed between a cluster of levels close together. The trade is 13 weeks old, with the gain climbing further to 11.08% from last week's 9.97%.
This week's summary
After last week's 96% buy-side volume, sellers have retaken control on IWV: this week 82% of trading flowed to the sell side and price slipped 1.4%. It's the fourth straight week of falling CMF and momentum, with the weekly RSI down from 66 to 61. The daily chart still holds a double bottom in the 413 area, with a 4% intermediate rebound: the trade's gain has eased from 11.08% to 9.49%.
IQS Phase
57
ordinary
Signal Strength
35
medium · weak
Sizing
REDUCED
Ranking
#87 / 112
US stocks in progress
Trade P&L %
+9.49%
from signal to today
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