We're seeing a stronger performance in larger stocks and those within the growth factor, with more of them in the green compared to smaller and value stocks.
This is especially clear in the Small Cap ETF ($IWM), which recently failed at a key level of resistance.The Vanguard FTSE Europe ETF ($VGK) breaking down to fresh lows is particularly concerning. A swift recovery here is essential to shift the narrative.
Typically, after a rejection like this, we tend to see a period of sideways movement as the market absorbs overhead supply before the next move higher.
