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indexes like the S&P 500 and Dow Industrials were at lifetime highs just yesterday, whereas the small caps have been lagging fairly badly. What’s interesting to me is the channel on the small caps, shown by way of fund IWM. As you can see, the last time it tagged this lower channel trendline, it rallied mightily (that was, of course, just before the election). Let’s see what happens in this instance, because a trendline break could be a game-changer.
I’ve got a reasonably-long list of “to do” items for my SlopeCharts product, but I’d like to throw the question out to the group as to the kinds of technical studies or features any of you would like to see. Please just say what you want in the comment section or, just as useful, click Like for any comment whose suggestion you support. Thank you!
NDX retraced today without hitting my channel resistance trendlines in the 5830 area. My working assumption is that NDX will test those levels tomorrow or Friday. NDX 60min chart
My most profitable short position is Brinker International, which I’ve posted about many times. If you are not in this position, I do not think it’s too late. Far from it………I think Brinker has a long, long way to go. Here’s the topping pattern and the breakdown:
