A Breakout is Imminent. Or a Breakdown?

Here is a classic wedge pattern formation on the Russel 2000. The price action is getting squeezed pretty tight. Watch for the breakout or breakdown soon.

Today, the Russell performed better than all other major indices. Small caps outperformed in a big way, in fact. Even the mid-cap and micro-cap ETFs greatly outperformed the big 3 indices.

Cathy Woods ARK ETF contains a lot of small cap growth companies. Ever ETF outpaced its peers.

This is another sign that the rally is broadening out to other areas in the market besides big tech. This is a healthy sign for the broader market.

One thing should be noted. Some of the big names are extremely overbought. Don't get caught buying at the high right before a pullback.