I’m don’t see price levels & trendlines that stand out as much on IWM & /RTY as those on the large caps right now. I believe that I covered IWM on Friday but here’s a 60-min chart with levels to watch (i.e.- a break of the uptrend line) and potential targets, once a decent sell signal is triggered.

So far, /NQ made a perfect backtest of the 60-min uptrend line/bottom of the wedge at today’s high followed by a fairly impulsive reversal off that level, which helps to further validate that trendline (the more reactions off a TL, the more valid it is IMO). Backtests can go on for a while & even then, sometimes the security ends up regaining (moving back above) the trendline. However, shorting a backtest of a fully mature bearish rising wedge pattern, confirmed with divergences, is certainly objective. I’ve added to minor trendlines to this 60-min chart, each of which would trigger another minor sell signal if broken.

I often make mention that divergence lines, such as the upper trendline on a rising wedge or lower TL on a falling wedge, are not significant as price trendlines, as the lower TL on a rising wedge (or upper TL on a falling wedge). The price trendline below a rising wedge will typically have more reactions & that is the line, if broken, that will usually trigger spark a correction/trigger a sell signal. As a security is in an uptrend, bouncing off a trendline on each pullback until that trendline is broken, some of those bounces can take the security higher, above the upper TL (divergence line) but as long as prices continue to make higher highs with the indicators making lower (or equal) highs, then the divergence remain intact, as it still is on the /ES & /NQ 60-min charts as of now.