IWM is below its 200-day moving average but on a longer time frame has been sitting in an upward channel; high interest rates are hard for small caps, and both more downside and more upside are possible from here.

Let's look at the Russell. This is the small caps and we can see that we're actually below the 200 day moving average on these. This one doesn't have the volume profile on the right.

But again, if we were to look back at a longer time frame, you'll see that the Russell has kind of been sitting in a in a channel to the upside. I don't have lines drawn on here, but I I mean, I hope you guys can see that if we were to draw some lines on this that along that 200 day moving average and along here that there's there's a defined amount of space that it typically trades in.

Interest rates are high right now. That's hard for small caps. Could we see more downside in the Russell? Absolutely. Could we see some more upside? Absolutely.