Below look at the Nasdaq Composite Index and the Russell 2000 over the past couple of decades. No doubt both of these remain in strong uptrends, both creating a series of higher highs and higher lows.

The strong rallies over the past several months have pushed each of these up to test 15-year breakout levels. If they do breakout it would be something neither has been able to do for a long time and would send a very positive risk on message.

Joe Friday Just The Facts; Each are testing breakout levels at the same time. The risk on trade in stocks, would not want to see rising wedge support give way, like both did back in 2007.