Two weeks ago our technical watch dog Chris Kimble called attention to a potential turning point for small caps in How Big Are Your Dogs? Here's his update.

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Chris explains: On June 22nd I pointed out that small caps had outperformed their bigger counterparts, yet they were at a price point that gains should be harvested, and for those looking to score on defense, THAT WAS THE TIME.

Since that post, the Russell 2000 ETF has declined over 10%, which means for those scoring on defense, some nice gains have accumulated.

Now another key price point is at hand since another key channel support line is breaking down!