The small caps in the Russell 2000 ETF, seen first below on the 30-minute timeframe, are notably weak today on heavy sell volume and bear-flagging with the potential to drop lower.
This type of action is the main reason I am reticent to go full throttle initiating new swing longs, even though the action in the solars (CSIQ FSLR SPWR YGE, to name a few) is quite encouraging, as is the action in China names like SINA VIPS YOKU.
That said, if the bulls can pull off the type of afternoon rallies we saw so many times in 2013, I would be quick to pounce on some longs.
Also note the tight intraday consolidation on the silver ETF, second chart below.
______________________________________________________
______________________________________________________
