Below is the zoomed-out 30-minute chart of the small cap ETF stretching back to mid-August.
Note the light blue lines highlighting a textbook rising wedge. Keep an eye on this pattern to see if bears can finally sink their claws for a breakdown, or instead if it is another in a long line of bear traps.
Either way, I suspect small caps are setting up for fireworks in the form if their next big directional move after Labor Day.
1,213 above and 1,082 below on the Russell 2000 Index are the levels of note for a major breakout or breakdown.
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do I even have to say it!?
How could he not hang onto Jana Kramer! I guess I still have a chance.