$IWM – Small Caps at Bounce Zone

📊 IWM – Small Caps at Bounce Zone

Chart Context:

IWM pulled back into Fib 0.382–0.5 zone (~239–240).

Price found support exactly at 239.4 pivot → matching MA bounce on daily.

Intraday structure = higher lows forming → possible reversal leg.

🔑 Key Levels

Support: 239.4 (pivot) → 237.6 (strong demand).

Upside Targets:

242.9 (Fib 1.0)

244.9 (1.382)

247.3 (Fib 2.0 extension)

Invalidation: Break below 237.6 negates bullish setup → back toward 234–232.

📈 Trade Bias

Bias: BTFD / Bounce Play while above 239 support.

Scalp Targets → 242–244.

Swing Target → 247–248 if momentum extends.

Risk Management: Tight stops below 237.6.

🧩 Takeaway

IWM showing resilience at Fib support. If small caps confirm this bounce, it could spark a broader risk-on move across equities. Watch 239 → 247 range closely.

#IWM #Russell2000 #SPY #Trading #VolanX