The Russell 2000 index, represented by the ETF $IWM, is currently trading at levels not seen since mid-2018, with recent activity indicating a potential technical bounce. As of April 4, 2025, $IWM was observed peeking below approximately $198, and it has not made a new low during the day. The percentage of Russell 2000 stocks above their 50-day moving average has dropped to 8%, a level last recorded in September 2022, March 2020, December 2018, and January 2016, suggesting intense oversold conditions. Additionally, only 21% of S&P 500 stocks are trading above their 200-day moving average, marking the lowest percentage since October 2022. Recent trading activity also included a notable purchase of 7,000 March $190 call options at $15.80, indicating some investor interest in potential upward movement.