You can bet a lot of eyes are on this ‘W’ pattern

Small Caps (IWM) are at a technical decision point

And that decision is between breakdown or a hold of the daily trends of the SMA 50 (intermediate) and SMA 200 (major). This market seems to revel in keeping players in suspense (ref. the Copper/Gold ratio and other as yet undecided macro indicators). I would think that a loss of the small caps would not be a good sign for the broad market. No, not at all.

2022, you’re up baby.

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