Small Caps Break From Trading Range

While the Dow Jones Industrials finished with a bearish cloud cover, enough to keep the duel gravestone doji in play. The rising trendline is the trigger line between bullish and bearish stance for the index. Meanwhile, the index is underperforming relative to the NASDAQ 100

The NASDAQ is edging towards resistance, but it remains below the current trendline connecting March swing lows, and is well inside the trading range. While the index is underperforming relative to the Russell 2000, until there is a break of the trading range, current action is just noise. 

The indices are playing a mix of bullish and bearish signals, but really, it’s up to the Russell 2000 to do the leading. 

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