IWM is at key technical support within an upward channel; potential bounce to 297 if momentum supports.
Bullish
“SPY Support Bounce Delivers As Yields Surge Past 4.8 Percent”
Verified InvestingPublished Sep 2 · 2 passages
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Even the IWM index rose today.
Speaking of which, there is another parallel upward channel on the IWM indicator in the daily timeframe. Look at this long-term upward parallel line dating back to the lows of April 2025 .
What was the price like yesterday? Directly to the 50% zone of the parallel line. What did he do today? recoil. And what else happened here? Another timing scenario is directly at the support level.
This is where we need to get the technical bounce. Now, if we get any momentum to support this, we could all the way up to 297 on the IWM index.
What this channel has said about $IWM
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2026-09-29
One on the IWM. All right. Now, this is the Russell 2000 index. We used to cover this every day. Sometimes it's just not as as robustly moving. However, in this scenario with high yields, about 64% of the stocks contained in this 2000 stock index are not profitable and rely heavily upon borrowing money to pay out and and fund their ventures to keep their business doors open. So, higher interest rates are going to put pressure on the majority of stocks here in the IWM.
Quote at 07:27 ›2026-09-02BullishThis one
Even the IWM index rose today.