Today affirmed the bullish scenario outlined last evening with a plodding but substantial grind higher as small caps massively outperformed other major indices on a relative basis. Were yesterday and today the start of a sustained move? Perhaps so, looking at IWM: the completion of a three outside up (candlestick) and a three inside up [...]

Some R2K (IWM) charts this evening to interpret how things may go down as the market approaches – Memorial Day weekend notwithstanding – what seems likely to be a significant near-term tipping point. My bias tends toward the upside; however, the broad-based technical environment is indecisive and has shown more signs of wear (e.g. forward [...]