On the 10-minute chart today for the small cap ETF, I am keying off $107.75 below.
Buyers have been defending it all day, but they have been stopped by a series of lower highs, forming the highlighted descending triangle.
I am watching this pattern into the bell to see if we are, in fact, going to break lower and assault last week’s lows.
Drop me your top tickers this afternoon.
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that pattern never breaks higher, does it?
It can, for sure.
Remember people. Janet Yellen said Small caps were stretched in July. She warned us.
Lots of smaller U.S. internet stocks hurt in Fibre sell-off. IWM isn’t necessarily a good indicator for today until those smaller stocks settle down.
Nothing to do here but sell QIHU short? 🙂
Is that a double top with a grave yard doji on GPRO I’m seeing?