IWM is looking vulnerable, printing a red day Friday while its peers $ES_F, $SPX, and $SPY closed strong. RSI may be stuck at the top of a downward sloping channel, and it's sitting at the top of a chop/consolidation zone. A failure to breakout here will likely result in a short-term correction.
Should this happen, it's likely a hint of what's to come for the remaining indices. An extended move down could signal a rally reversal.
Should this happen, it's likely a hint of what's to come for the remaining indices. An extended move down could signal a rally reversal.