2/11/2017: market update (index ETF update)

The small cap ETF IWM was consolidated within a box for 8 weeks so far. It is ready for break out. Following are some present technical characters of the chart:

• RSI break out down trend line
• price comes into the strong ichimoku cloud support and bounce up to the high bound of box
• MACD daily golden cross
• The BB again squeezed very much for another expansion
• With current strong technical indicators, the price has high probability to break out
• the box break out target is $142~$143. 

http://schrts.co/r1aEFo

The Dow Jones Industrial average ETF: DIA broke out last Thursday and continued moving up last Friday. The momentum is pretty strong. The technical indicators have following characters:

• RSI break out down trend line
• MACD daily golden cross
• The BB again squeezed very much for another expansion
• With current strong technical indicators, the price most probably will move up within the rising wedge
• the end of rising wedge price target is around $208. 

http://schrts.co/CNI9YE

The Sp500 ETF: SPY has same technical patterns as others' index ETF. 

• The rising wedge price target is around 234
• It does not mean the price only can get to 234, then will top out, it only tells the pridicatable pattern price target. The real price can be higher.

http://schrts.co/r24XsO