- Technical Market Commentary -

December 2, 2010 (FinancialWire) (By Frank Kollar) (Go to http://www.financialwire.net/?s=cmmtry for all recent commentaries.) — Shares of the iShares Russell 2000 Index Fund (IWM) have broken-out above a long-term resistance level.

The April, 2010, high at $74.13 was surpassed on strong volume Wednesday, December 1, closing at $74.38, and that breakout above the prior highs points to higher highs ahead.

Look for IWM to reach $78.35 in coming weeks, with good potential for reaching $83.61 as a longer-term target.

The FirstAlert(tm) Morning Digest lists economics calendar events, earnings announcements, financial community conferences, company presentations and more. Go to http://www.financialwire.net/2010/12/02/fa-am-digest-40/ for today’s The FirstAlert(tm) Morning Digest summary.

(Go to http://www.financialwire.net/2010/05/01/about-kollar/ for more about Mr. Kollar, and go to http://www.financialwire.net/?s=kllrfby for more of Kollar’s commentaries.)

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Disclosure: Frank Kollar’s Fibtimer.com (http://www.fibtimer.com/) ETF Timing Strategy has a position in the iShares Russell 2000 Index Fund.

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