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.