You are probably well aware of the fact that the world of small caps hasn’t exactly been setting the world on fire compared to the totally hopped-up-on-Fed stuff like the S&P. Here’s the Russell 2000 with a trio of moving averages.
One interesting way to look at this is to divide the SPY by the IWM, as shown below. If you were told this was simply a stock chart, you’d probably be eager to buy it. It’s clear the the SPY is extremely bullish compared to its beleaguered brother.