Made a small IWM analysis. It's stating the obvious, tought I'd share it anyway.
On the daily chart we can see a bounce from the VWAP anchored at the start of the september rally. From this strong bounce we can see on the hourly chart that IWM made it to a 61,8% Fibonacci retracement level before continuing the rally. VWAP and other support levels like pivots were broken in the process sucking people into selling their positions or going short. This now appears to have been a bear trap as IWM has regained it's uptrend and is now trading above a very strong VWAP support cluster ranging from about 83.34 to 82.60.
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