TECHNICALS-IWM

RUT Traders may have noticed the recent action in the IWM; always seems to run into support /resistance at/near the $78 level and that may happen yet again (click on the picture).

That level is the 23.6% FIB retracement with the 50 and 200 day SMA's near by at the $80+ level.

The chart shows that the RUT has been one of the weakest links in the major indexes of late and it just may be giving us the first stopping point for this rally.

And just like that, the problems at ETFC have already gone away as the stock trades up 30%.