The Russell 2000

There was some interesting action in the Russell 2000 yesterday.  Here is a look at IWM...the Russell 2000 ETF.  Over the past two weeks it tested resistance at the $120 level.  This level corresponds to the 1,200 level of the index.  This level is exactly where it rolled over in late November/early December.  It was also support last year from March through August.  Yesterdays action was interesting in that it was the highest close in almost a year and this important resistance level may be getting taken out.