For something on a longer time frame, here's one that I see playing out. The small caps have been diverging from the main indexes for some time now failing to make any new highs. In fact, it just broke through a multi-year trend line from 2010.
It is looking very weak on the weekly chart with an obvious RSI divergence, I think it is letting out some air and I would be careful if you're long here.
If you're looking to short this, I would really recommend waiting until it retest the multi-year trend line from underneath (first bounce back up to white line).
It is looking very weak on the weekly chart with an obvious RSI divergence, I think it is letting out some air and I would be careful if you're long here.
If you're looking to short this, I would really recommend waiting until it retest the multi-year trend line from underneath (first bounce back up to white line).