Hi Shoppers,

Quite the rally last week. 

Tuesday and Wednesday gave us the head fake of a rollover possibility.

Didn’t happen.

Now it looks like the Russell 2000 (Ticker: RUT) is finally ready to participate.

Take a look at the iShares Russell 2000 Index ETF (Ticker: IWM) daily chart:

It has decisively busted out, to the upside, of that trading range it has been in March 10th.

Friday’s close is also well above the 200 day moving average.

IWM looks to me like it wants to trade back up to my next resistance level at $188.

Now, to play a move in the Russell 2000 Index, we use the leveraged ETF Direxion Small Cap Bull 3x (Ticker: TNA).

Here’s the daily candlestick chart:

I think TNA is ready to rally to its 200 day moving average at $35.

Looking at next week’s calls:

I like the 33s around $.90.

Use $31.75 for your stop loss area.

Thanks for Reading … See You Next Tuesday,

Licia Leslie