The small cap chart, as well as that of the Nasdaq, is coming to a standstill overall as we head into the weekend. Whichever way they break should finally give us a nice directional bet, though I am still leaning lower. Let’s see who controls the rules of this road, though.
For now, the hourly chart of the small caps, below, shows the consolidation.
Also note the rally in the precious metals miners building some steam.
Elsewhere, SWKS is putting a sizable bearish engulfing candle today after its report, as semis as a whole look heavy here.