It truly does not get any bigger than this: The looming weekly close for the Russell 2000 Index at the primetime level of 1,082.
I have talked ad nauseam about this for good reason–The small cap weakness could easily presage something more ominous in the broad market this autumn and beyond.
As i write this, I see we are just below 1,082, thug marginally.
With declining 150-day and 200-day moving averages now well above price, I view a weekly close below 1,082 as confining a multi-quarter top, rendering any rallies as opportunities to sell.
As they say, the bigger the top the bigger the drop. Note how long the Russell has zigged and zagged…
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TWTR – small gap and gap fill. Not totally convincing yet.
Well Janet just sprinkled some Tinkerbell pixie dust on the market.
Wasnt going to say anything earlier, but that is a Chicago Bear missing the tackle…Im out of IWM, but had a good run. Bonds are looking weak. Thoughts?
lot of names and some study scraming big bounce