Obstacles to Clear

To update our Russell 2000 Index chart analysis of the 30-mintue timeframe from last week, note the downtrending pattern throughout the month of July has not yet been reversed.

The past several sessions have seen an overall grind sideways, with price settling into a wedge, highlighted in light blue. Even today, the small caps are lagging a bit here.

Bulls are looking for a over $117 now on the ETF.

_______________________________________________________