|Simple Trading Ideas||
As the Market moved higher today I decided to compare the Large Caps (DIA) the S&P 500 (SPY) and the Small Caps (IWM). Normally I like it when the Small Caps are doing good and leading the Market. First let's look at the chart for SPY. Today's candle opened up with a gap moved up and back down creating a larger upper shadow. This candle looks like a shooting star which is bearish. Also notice that the 10-day SMA crossed below the 20-day SMA and the price moved pretty far from the 10-day SMA which is sort of turning down.
The chart for the Small Caps (IWM) shows more weakness. The 10-day SMA is definitely turning down.
There is no question about it, out of the three the Large Caps are the best