IWM Chart analysis

• IWM weekly chart is testing 50 Week SMA. If week candle manage to come back and close above this level then a pause in selling is likely. Closing below 50 Week SMA will extend correction for the coming weeks.
• Price is testing 38.2% Fib level. Daily close above it may give a pull back. Price closing below it will extend the fall
• Weekly MACD sell signal has worked well so far. The cloud support in weekly chart has to be broken for a bigger down move to happen.
• S&P 500 ANALYSIS AFTER CLOSE