IWF in new highs
In a typical bounce up, IWF, the iShares Russell 1000 Growth ETF, stopped at ema50 and the lower Bollinger Band, and then crossed over its ema10 and ema20 to carry on by trending up smoothly above a rising ema10 and just below an also rising upper Bollinger Band.
Yesterday’s very bullish candlestick just indicates bulls’ strength and determination to push IWF higher.
Of course, MACD has crossed over its signal line and RSI is trending up and approaching 70.
Just as important, IWF Relative Strength is also trending up and above its ema20.