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Over the past three sessions, the iShares Russell 1000 Index ETF (IWB) has been consolidating just above its 200-day MA. Yesterday, for the second time in a row, IWB undercut this key moving average, but reversed to close near session highs. Further, the price action in IWB is beginning to show a bullish divergence with the Accumulation-Distribution Histogram. As Accumulation-Distribution has set a higher high, IWB has not, which suggests institutional accumulation. We are placing IWB on the watchlist. Trade details are posted for our subscribing members in the watchlist section of the newsletter.

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