INDEX:IUX Russell 2000 Index
Small cap was not able to go above blue resistance this month, and looks like it is backing down.
This is an amazing chart. Very good observation. Since 2000 (end of wave (III)), markets are in a wave (IV) bear market and from the chart above we can clearly see the correction unfolding as an a-b-c-d-e formation (e about to take place), or viewed differently as an a-b-(a)-(b)-(c)&c . In Nasdaq the counting is slightly different after 2000, that is A-B(1,2,3)-C .