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Weekly Tech Charts & Report - Dec. 27 - by TradesAfterWork

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Posting this to share with our readers: (We really like these Weekly Technical Briefs by TaW)

Small cap are still taking a strong lead. The weekly chart of the Russell 2000 below continues to get stronger. We have not seen a major pull back for almost 9 weeks. It would seem as though it's time for a pull back, but the small caps, even with their higher beta or risk, continue to have a bid. The trend has been a very steep climb, as you can see highlighted in blue.
The Micro-Cap stocks, which have a market capitalization of between $50 million to $300 million, have an even higher beta or risk than the small caps. With that being said the Micro-Cap stocks ($IWC) have traveled a similar path to the small caps above ($IWM). Generally the kind of action we see in the small caps and micro-caps is a good harbinger for the market.
The weekly chart of the Nasdaq Composite Index looks just fine. The PPO is positive and above the neutral area. The price is trading above its 10 week and 40 week moving averages. The short, intermediate and long-term trends of the market are all still positive at this time.

Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal.

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