Public Post – A Pullback and then Go Again.


SPX  – In the short term, I see small bearish wedges  that could lead to a pullback or a sideways move in the short term.  If this were to just surge higher and break out to new highs,  that would be bullish.

SPX 6-23

Interestingly,  The RUT, IWM, and IWC  did break to new highs recently and continued higher.  They might be leading!

IWM – Also possible they pull back & back test the break out, but it remains bullish above the break out line. 

IWM 6-23

IWM WKLY–   Big Picture:  Break out & back test complete.  That 1 yr+ consolidation actually  gives this plenty of room to move higher over time.   IWM, RUT, etc went sideways for a year while the DJIA & SPX went higher.  Maybe they consolidate for a bit while the small caps do their own run upward?

IWM 6-23 wkly


Happy Trading.