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If it's a healthy sign when small caps (
) lead large caps (
) during a rally, then the recent move higher should
come with a warning
. Small caps failed to take out their July 19 high and instead made a series of lower highs that month, writes Joe Bell. Actually, the S&P outperformance has been
going on for longer
than 4 weeks.
View news story
A lot of bearish sentiment on IWM is good for this ETF. I believe that on Friday (8/4) we saw an unmistakable upside reversal of IWM. It's possible that we will see consolidation phase on Monday but IWM is clearly headed to break 80 soon. During this time SPY may still outperform IWM but eventually IWM will rise to catch up. We saw this type of pattern in IWM in many previous years.
Aug 5, 2012. 02:40 PM
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