Small & Micro Caps poised to rally another 10%?

by Kimble Charting

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Year to date, Micro (IWC) and Small Caps (IWM) are acting stronger than large caps. The strength in IWC and IWM have both of them testing all-time highs this week, which could be the top of bullish ascending triangles at each (1).

Two-thirds of the time the ascending triangle pattern leads to higher prices.

If they break above line (1), the measured move suggests that each could rally around 10%. The measured move target for  IWC comes into play around the $112 level and for IWM the target comes into play around $178.

For Micro and Small caps to keep acting stronger than large caps, each needs to break above resistance at (1).

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