TA/chart, page-274

We might still have some late, smaller, tax loss sellers. Smaller because the volumes have dropped off sharply again.
Buyers might be waiting for the end of the month for tax loss selling to be completely over but most small caps mark their lows well before the end of June and we have no doubt seen that with MNB marking its low at the end of May. News kicked off the first leg up from that low. Any further news should also give us the next upleg - and the one after that. After a very weak 18 months for small caps, there is potential for big gains for those small caps that deliver something concrete over coming weeks and months. MNB should do just that.
The US doesn't have tax loss selling at this time of year and the Russell 2,000 Small Cap index in the US is continuing higher, playing catch up to the larger stocks. That should start to rub off on our small caps sector, especially as tax loss selling finishes for our stocks.

Russell 2,000 advancing again after a few days of consolidation.



MNB - consolidating the 30% plus move off the low after the last announcement. Volumes have dropped off this week.