The small caps (as represented by the ETF symbol IWM, below) has been range-bound literally all year long. The reason, of course, is that the Federal Reserve has totally captured and controlled this market, and it knows all too well the kind of holy hell that will break loose if they stop pouring literally trillions of dollars directly into the pockets of their banker friends.
I will say, however, that ever so slowly, the small caps are indeed starting to chip and wither away. The horizontal lines make plain the breakdown required.
A longer-term view provides the topping pattern I envision, which hasn’t completed yet, but if it did, my goodness.
