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While the Dow, S&P 500, Nasdaq 100 and the NYSE all continue to chop sideways and remain below highs hit in January, the same can not be said for Small Caps (IWM) and Micro Caps (IWC).
The 2-pack above highlights that IWM & IWC both appear to be creating bullish ascending triangle patterns and both are breaking above highs hit a couple of months ago at each (1). These breakouts have both of them hitting all-time highs.
Joe Friday Just The Facts– Measured moves suggest each could rally up to the prices zone at each (2), which is around 8% above current prices.
Full Disclosure- Members have been long both for a while.