S&P 500 Chart Shows Why Big Caps More Bullish Than Small

The 4-hour chart of the SPY is quite a contrast to the 4-hour chart of the IWM that we posted earlier. Whereas the IWM (Russell 2000 ETF) shows a series of lower highs and higher lows -- a sideways contraction pattern -- since the mid-June lows, the SPY's exhibit higher highs and higher lows -- an uptrend pattern. The former is neutral to negative in direction, while the latter is bullish...

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