Commentary

5/26/21 The Homestretch – IWM

Every day with a positive return is a good day. IWM is having a nice day. It is only four months into loitering at this level and it is not clear why anyone would expect the next few years to be much different, at least from a perspective of immediately going a lot higher. The cross of the 13 month SMA below the 39 month SMA was a decent buy signal.

Meanwhile SPY is quietly consolidating near 419, comfortably above the important 417 level.

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