Part 1: Equities $MID vs $RUTUS Small Cap 2000 IndexTVC:RUTROW_PartnersMID (S&P 400 Mid Caps) Price is testing a major floor where the upward trendline and the 55 day average meet. Unlike the pullbacks in May and June where buyers stepped in quickly, buying energy has dropped significantly lower this time. The momentum (TTM) bars have formed a lower high compared to the spring push. A full daily close below the 55 day (blue) line opens up a drop. How far? Hard to say. There is the the old price gap down as the bigger risk. RUT (US Small Cap 2000) Small caps are holding their upward channel better and sitting on their 50 day average. Even though RUT looks steadier, price pushed to new highs while momentum simply matched its previous peak instead of growing. If MID breaks down first, expect small caps to follow and test that lower channel line.