iShares S&P SmallCap 600 Value Index Fund (IJS) – This exchange-traded fund (ETF) seeks to track the performance of the S&P SmallCap 600 Index (SML).
Like its big brother, IJS put in a bottom in early November and another on Nov. 30. Those, plus the reversal from the 200-day moving average in July, set the three points of an intermediate uptrend.
A pullback to the conjunction of the 20- and 50-day moving averages, now at just above $55, could be a good place to invest for a “January Effect” rally that, if successful, could break through the triple-top at $58 with a target north of $65.
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