Well, there are way too many tools whirring along readying their signals to just depend on a single market or indicator, but I think the Small Caps are a good one none the less. Earlier in the week we looked at this daily of the Russell 2000.It is still holding the key 1180 area. A successful hold of support targets 1280.
Here is a weekly view using a chart of IWM (RUT ETF) that was posted a while back.It is a little less reassuring as it has not made a weekly close above resistance and is pausing at the EMA 45, which used to support the bull and resisted the bounce most recently.
The Russell 2000 used to be a post-2012 leader. Now, not so much.So what’s next, catch up move with manic bulls taking the market higher or the other thing (you know, the thing that fewer and fewer participants have been considering likely lately)? Eh Bueller?
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