While the Nasdaq or the wide S&P500 not so long ago broke further bullish records, a slightly different picture appears from the behavior of smaller companies, represented by Russell 2000. In this case, after the covid panic, it was not possible to return to the long-term highs, and only remedy the pandemic collapse.
If we look at the technical situation on the long-term chart, the location of the lows and highs already indicates a shift in the main direction. From 2017, successive lows and peaks are following the bearish order, i.e. lower and lower. The market has made a significant approach to the 1600 point area where sellers have been active in the past. There is also trouble here this time. So this is a good place to take profits from recent months.