Charts on SPY, IWM & QQQ for Thu August 3rd, 2017

All three of the indices exhibit a series of higher-highs and higher-lows.  However, IWM has deteriorated of late, and has pierced its June-August up trendline, which has made it vulnerable to a breakdown -- especially if IWM breaks and sustains beneath key support at 139.00-138.90. Such a sustained break of support in IWM will leave behind a very toppy, threatening, two month price pattern.

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