After the most recent rally to new all-time highs in the Dow and S&P, one of the last branches for bears to hold onto is the small cap action in the Russell.
The ETF weekly chart shows price being rejected from the underside of the declining 20-period moving average this week. Also note the break in steep trend since 2012 is still very much in play.
I will delve more deeply into this ongoing divergence over the weekend.
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Not sure that branch is gonna hold that big fella 😉