This could be the most significant technical development for the Russell 2000 and the IWM in quite some time.
The big question is, can the broad market, and small-caps in particular, continue to produce relative strength?
The gap between big-cap tech names and the rest of the market has to eventually close.
With Apple use the stock's 'thin green line' as a guide.
This 'best-in-class' cybersecurity name was already hot, before the news.
Let's check the technical dashboard and see how to proceed.
The S&P 500 would be negative for the year if it wasn't for seven big-cap technology stocks.
The sudden appearance of a weaker labor market is likely what's causing the Fed to be considering a 'skip' this month, giving time for the economy on Main Street, USA to catch up to where the Fed has been on policy.
The message of the market for the last two years has been don't fall in love with the bull case or the bear case because just as you do, the market manages to find a reason to go the other way.
Which one will win out?