IWP the most bullish major index

Just like most major US indices, IWP – the iShares Russell Mid-Cap Growth ETF – started its uptrend on December 26. At the beginning of January IWP moved over its 10- day exponential moving average and it hasn’t touched it since.

The ETF is currently trading above its 10- day exponential moving average and below the upper Bollinger Band, in a strong, healthy uptrend. Both thw 20- and the 50- day exponential moving average are also trending up.

IWP has reached a resistance line, the upper blue line in the chart, which is the next obstacle in its uptrend.

Throughout January, MACD, our momentum indicator, is in a positive regime, moving above its signal line.

In the same period, the ETF’s Relative Strength started trending up and above its 20- day exponential moving average, which means that it outperforms SPY our benchmark.