Chart of the Day - Friday, December 3rd, 2021

By Patrick Dunuwila

December 3, 2021
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Today’s Chart of the Day was shared by Michael Kahn (@mnkahn). It's a daily bar chart of the Russell Micro-Cap index, year-to-date. Michael points out that Micro-Caps broke below support today, and closed at a 10-month low. Similar to Small-Caps, Micro-Caps have been stuck in a tight range for the majority of the year between 850~990. Small-Caps are holding on for dear life above support, but seeing Micro-Caps break down like this begs the question; will Small-Caps follow suit?

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Patrick Dunuwila

Editor, The Chart Report

Patrick Dunuwila is the Co-Founder and Editor of The Chart Report, a popular technical analysis newsletter read by thousands of investors worldwide every day. Patrick is a Chartered Market Technician (CMT) with over a decade of market experience. Prior to launching The Chart Report, he worked as a proprietary trader at Benchmarq Technologies in New York City. He's originally from Syracuse, NY, and currently resides in San Diego, CA.

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