$IWM, the iShares Russell 2000 ETF, has experienced a significant breakout, reaching its highest close in two years. The ETF has surged by 8.8% over the past four trading days and has been outperforming major indices such as $SPY and $QQQ. The breakout is supported by strong volume and a hidden bullish divergence that has been forming for three months. The ETF hit $220 in pre-market trading and is currently trading around $221. Open interest in September $225 calls has also increased significantly. The ETF's RSI is nearing 80, and trading volume has reached 2.1M. Analysts are targeting a price range of $240-260, with some expecting a re-test of the breakout level around $208-211.