May. 22 at 10:45 AM
IGV was among Wednesday’s strongest performers, jumping more than 1.5% and continuing to extend from the bullish pattern we have highlighted over the last several weeks.
The ETF has remained above the key 87–88 resistance zone, which had repeatedly capped rallies since February. But we’ll need to see continued buy interest for this to remain
Clearly, there is still a lot of ground to make up.
$IGV remains well below last summer and fall’s highs, meaning this is still very much a comeback story rather than outright leadership. The 104-upside target remains in play. For now, the key is continued constructive digestion above the breakout zone.
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