In unusual occurrence, both the Dow and small caps could be headed for a breakout, charts suggest

As we know, large-cap growth and technology have been breaking out from various bullish patterns over the last few months, with many now pushing to new all-time highs and extending from there. However, two key market ETFs have yet to break through their own long-term bullish patterns — ironically, they are the iShares Russell 2000 ETF (IWM) and the SPDR Dow Jones Industrial Average ETF Trust (DIA) . It's rare to see two areas on opposite ends of the market-cap spectrum looking this similar. Typically, one area leads while the other lags, allowing for rotation between them. Here, we could eventually get barbell-like leadership in play. Both IWM and DIA are well above their April lows — as is nearly everything else —but both are flat since late 2024. Most importantly, they are now showing un