$IWM, the iShares Russell 2000 ETF, has shown notable volatility in recent trading sessions. On December 18, it was observed rising back to highs, indicating relative strength, with potential to fill an open gap up to $235 if favorable conditions arise. However, the sentiment shifted later that day as one trader remarked that $IWM was 'destroyed.' On December 19, $IWM experienced a transition from green to red, suggesting a reversal in momentum. By December 20, $IWM was noted to be nearly green again, demonstrating a significant recovery from earlier lows, with a reported increase of 2% from premarket lows. Traders are closely monitoring the ETF's performance against key levels, including a support gap at $575 and a volume point of control (VPOC) from October at $582, as they assess market breadth for potential buying opportunities.