Lemme Know When The Russell 2000 Gaps To New Highs

Really.

Not a whole lot more to add about my dog’s just expression until something dramatic happens.

We both seek excitement.

Surely for her, excitement comes in the form of a treat or a walk.

Yet I do not underestimate her commitment to the markets.

After all, she sits faithfully by my side each day watching me trade, tweet and write.

One thing for certain, should the Russell 2000 gap up beyond 143 and leave a runaway gap, I will jump from my chair.

Bella will jump from her dog bed. She’ll think it’s about her. It might as well be.

They say, “Every dog has its day.”

With that in mind I wonder, “When will this protracted consolidation period have its day?

I’ve mentioned the word “drama” multiple times over the last couple of months.

Drama, I presume, can take shape two distinctly different ways.

As per last night’s Daily, one scenario for drama is when, “the Bears finally throw in the towel and buy!”

That could very easily occur when and if:

Furthermore, we cannot discount the impact should Regional Banks (KRE) charge above 56.50.

Or should Resuscitation Granny Retail (XRT) clear 41.00.

The other drama, less likely but also possible-the market gaps lower.

Instead of the prevailing “buy the dip” attitude, investors flee for cover, just like my dog does during a thunderstorm.

In that case, I and many others will frantically swallow Bella’s “Rescue Remedy.”

Until such drama unfolds one way or another, best to remain chill and in the moment.

Two dog-like qualities we traders do best to embody. Woof!

S&P 500 (SPY) 244-245 resistance to clear. 242 pivotal Under 240 not so good

Russell 2000 (IWM) I’d still consider the channel resistance at 142.90 as the number to watch. A gap and run above-sweet! 140 pivotal. 137.50 support