$IJH: S&P 400 Mid Cap Approaches a Buy Point

$S&P #buy point #strong support #corrective a-b-c down

The $IJH ETF tracks performance of S&P Mid Cap 400 index (the S&P 500 without the largest overhyped and overpriced mega tech stocks).

S&P 500: Tracks 500 of the largest publicly traded companies in the U.S. It primarily includes large-cap stocks, with market capitalizations generally above $14 billion.

S&P 400 MidCap: Tracks 400 mid-sized companies in the U.S. The market capitalization of these companies typically falls between $3.6 billion and $14.6 billion.

S&P 400 MidCap is more volatile than the S&P 500 because mid-sized companies have less financial flexibility than large corporations.

$IJH 3 hour chart

S&P Mid 400 has not tagged the milestone support just yet. The 57.99 – 57.46 is a very strong support. I think it is very likely that an undershot of 57.37 level will most likely be followed at least by a strong bounce up to 62.

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