I would like to propose the counter-trend bounce is largely done. The Dow Industrials added 1,000 points from last week’s low, and the NASDAQ futures have been hammered out a series of violent “lower highs” for weeks now
Wednesday could be very telling, but if we have a down or flat day, the H&S on the /RTY will be firmly intact.
For a different perspective, here’s the daily bar chart on the same ticker, IWM:
