Treading Water Into Summer

The small caps in the Russell are lagging a bit today still, as seen on the updated 30-minute chart for the IWM ETF, below. The breakout attempts have thus far been faded, and it is with monitoring the highlighted channel for resolution.

In other parts of the tape, it is still a stock-by-stock situation, with BABA sustaining a bid while another China name, VIPS, is trying to recover from a beating this morning.

And LL continue to swoon, with the stock potentially heading to $15 over the summer, given the structure of its long-term chart.