On January 30, 2025, the Russell 2000 index, represented by the iShares Russell 2000 ETF (IWM), demonstrated notable performance, opening up by 1.2% to lead major indexes. The small-cap index showed relative strength, particularly in the context of falling bond yields and a positive NYSE up/down volume ratio of 4 to 1. Analysts noted that IWM was approaching key resistance levels, specifically the $230 mark, while support was identified around $225. Market participants highlighted that small caps tend to react strongly during Federal Open Market Committee (FOMC) meetings and economic data releases, suggesting that upcoming events could further influence IWM's trajectory. The ETF was also noted for forming a bull flag pattern under $230, which is significant as it coincides with the anchored volume-weighted average price (VWAP) from the recent election day.