The small caps now likely (once again) hold the keys to the kingdom for this market.
Their bullish divergence to other major averages earlier today may have led to the minor bounce in the tape we are seeing as I write.
On the 30-minute chart for the small cap ETF, below, I am checking out whether well-defined support (lower light blue line) since Monday can now hold for the highlighted descending triangle.
That is the clear level against to trade/watch today and beyond, just above $104.
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C’mon back!
could bounce from 104 to 108 where there is potential resistance
interesting risk/reward the other way though. if 104 breaks, i think 100 breaks too.
enjoy your videos, btw
watching nflx closely later, think there’s a lot to be seen from that er