— Michael Kahn, CMT (@mnkahn) December 3, 2021
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?