The hot fling that small-caps had with money managers earlier this year appears to be over, leaving IWM to toss about in heavy seas.  After all, what is the appeal of ‘value’ stocks when lunatic-sector growthies are routinely taking daily leaps of 2% or more?  The answer, graphically speaking, is a chart that projects highs only marginally above the record peak at 235.12 achieved in mid-March. Less optimistically, a couple more weeks of floundering around could add bearish shapeliness to the incipient head-and-shoulders pattern shown, auguring a fall down to the 200 level.  If this is what is about to occur, IWM is not long for this list. Kick ’em when they’re down, I always say. _____ UPDATE (Apr 13, 9:43 p.m.): When the ass bandits at JP Morgan speak, we can be sure they are talking their book. In this case, they’ve shoved analyst Marko Kolanovic onstage to hype an impending shift from growth back to value “for a significant period.” If so, the push in this vehicle to 235.12 should get under way any day now.  The levels shown in the chart can be used to set-up ‘mechanical’ entries, or less risky ‘camouflage’ triggers on smaller charts.