Taking this UK investment trust as a proxy for UK small caps this count suggests that it may be in the midst of a decent correction and may have further to fall before resuming it's upwards trajectory.
Note
Was I too hasty in calling for an immediate, deeper correction? Is this another possibility?
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.