Stock Markets Analysis & Opinion

Sinewave Suggests Down-Swing May Be Over for Small Caps


I’m having a pretty good day, thanks almost entirely to the weakness in banking stocks. This is a big component of the small caps, and you can see on the RTY how the price has been playing jump rope with the red horizontal, which keeps flipping roles from support to resistance.RTY-Chart

The looming question is whether we’ve already seen the low for 2023 or not. The sinewave isn’t absolutely regular with respect to time, but it at least seems that lion’s share of the down-swing is probably over for this.Russell 2000 Futures-Price Chart


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