
The KBW Bank Index ($BKX) is showing a significant breakout on a yearly chart, indicating potential upward momentum in the banking sector. In the small-cap space, the iShares Russell 2000 ETF ($IWM) is demonstrating notable strength, with a coiled wedge formation and a bullish MACD crossover. Analysts suggest that if $IWM clears the 224 level, it could see substantial gains, especially as November is historically a strong month for small-cap stocks. Despite broader market dips, particularly in technology and semiconductor sectors, $IWM has remained resilient, showing a 0.92% increase while the S&P 500 ($SPY) and Nasdaq ($QQQ) fell by 0.53% and 1.26%, respectively. Additionally, the SPDR S&P Regional Banking ETF ($KRE) is breaking out to new 52-week highs, which positively impacts $IWM due to its composition of regional banks.
Incredible strength from small caps today on a day when the majority of names are suffering... š¢ $IWM +0.92% š“ $SPY -0.53% š“ $QQQ -1.26% https://t.co/aRdszNVqNL
$IWM strong near breakout level with lots of small cap favorites up 2% or more today
$KRE Banks breaking out to new 52 week highs today, really boosts $IWM since has alot of regionals in it
