Small Caps - Big Tech ratio

Just when I wanted to add to bearish positions, I check out the IWM-QQQ ratio and see what looks like a bullish pattern.  I also check IWM-SPY and dat looks good too.  So I back away from the bear button.

IWM-SPY [Edit: IWM-QQQ] has a nice little bottom, bullish divergence by MACD & ROC and a nice MACD push above zero.  As long as the ratio is in a bullish looking handle above support, I'll hold off.  On the negative side, ROC appears to be on a very short term negative divergence.  But overall, this one begs bears not to get too brave too quickly in my opinion.

Small caps usually lead hard into new downside events.

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