The smallcap SP600 index is moving up at greater than twice the slope of the drop from 2007-2009. Price is currently moving up between the 4×1 and 2×1 angles. The 2×1 angle is approximately the 50dma which makes it extra significant on this chart. Price is about 15% below the fifty percent retrace level which should serve as resistance if it makes it there.
Chart courtesy of Stockcharts.com
The 2 bar swing chart continues to make higher lows off the March low. The current swing is the largest since the initial swing off the low. Price is in the range of the 90 day cycle and is susceptible to a rollover during the next week.
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