Once again, the small caps in the Russell 2000 Index are flexing their muscles, with the 30-minute ETF chart, first below, working through a benign consolidation, thus far.
Contrast that chart to the S&P 500 ETF on the second chart, also of the 30-minute timeframe, and you can see the “megaphone” or broadening pattern of higher highs but lower lows. This shows violent disagreement over price between bulls and bears and typically resolves lower. Watch this spread, between the small caps and S&P.
And the third chart is an update on Margin Debt, courtesy of Chris Kimble. (click to enlarge)
A few notable longs performing well today: EPZM ISIL SAI VIPS.
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Crazy how far the new makes and models have come in 55 years.
Like another world.