This tell sure worked last week:
Russell 2000 Breaks the Neckline of a Head-and-Shoulders Pattern (IWM)
So here's Schaeffer's Research with the follow up:
...If we see this level taken out, the next logical support area would be the $76 neighborhood. This marks a 38.2% retracement of the rally from IWM's October low, and it's also a key former resistance area from late last year. Late-day trading has brought the IWM back off its lows, and I will be watching closely to see if this support area is broken in the coming days....MORE
Chart courtesy of StockCharts.com
