Markets are yet to deliver on fresh breakouts as they linger near resistance, but they are making heavy weather of it. Triple tops are rare patterns and the is signalling a breakout but hasn’t quite done enough to confirm it yet.
Technicals for the are bullish with the exception of relative performance to the Russell 2000..
COMPQ Daily Chart
The S&P is dominated by its bearish inverse hammer. Technicals—other than relative performance—are all bullish.
SPX Daily Chart
The last hope is the Russell 2000. Today’s loss has the makings of a move into the breakout gap. True breakout gaps can’t close—otherwise they wouldn’t be called ‘breakout gaps’—but today’s action is set up for a move into this price void. What will Friday bring?
IWM Daily Chart
It’s a last chance to cement a positive weekly candlestick. The Russell 2000 is best places to mark a breakout from a consolidation which dates back to the start of 2018, but other indices are weighing it down. Let’s see what happens.
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