Verified Investing on $IWM (Nov 2, 2026)
IWM fell only 0.07% while SMH fell 2.71% and QQQ 1.36%, showing relative resilience. It closed below its parallel channel Friday and today but not below Friday's candle, so it remains in the upper channel with no confirmed breakdown; it could rebound tomorrow, with near-term resistance at the 284.15 gap fill.
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But the IWM tried to do its best to hang on.
into the IWM to illustrate guys we were only down 007% this clearly was showing a rotation of capital yes this was hit as well But you go over the SMH down 2.71%. The Q's down 1.36, the S&P 500 down 48.
So S&P as well as the IWM tried to maintain some gains. It wasn't all red out on the screen. Uh Visa was up, Proctor and Gamble were up. A lot of defensive plays were up. So there are green uh elements to always find in the stock market.
And here illustrates the IWM doing its best to hang on. And I mean, but it's trying to hang on to this parallel channel. You can see over the last previous trading days, we secured back within this parallel.
Then on Friday, closed underneath the parallel. Today, we closed underneath it as well, but we didn't close underneath Friday's candle. So, we're still actually active within the upper part of this trend line, which is inside the parallel channel.
We haven't yet secured a breakdown. So, we very easily could just rock right back up inside that parallel tomorrow. near-term resistance on IWM will be this gap fill at 284 and.15.
What this channel has said about $IWM
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