$IWM Small Caps Will Lead The Way
When the time is right you will see the Small Caps Make a stand and lead the way. Just like Silver will usually lead the move in gold, small caps will usually lead the move in stocks, especially up.
Check out the move yesterday in the IWM Russell 2000...
While many people were watching the Dow, I was watching this. The Russell 2000 is basically st the lows of the year, in 1 day. It gave up an entire week of gains, in 1 day. This is very bearish price action.
Zooming out...
You can see a massive top forming and on the verge of breaking down. This too will target the 120s and give most of the 2017 gains away. I am not saying this will happen, it is simply a possibility that is looking more probably when people don’t believe it can happen.
The entire 2015-2016 Bear the IWM kept the overall market from going higher. This is happening again and will continue. The overall market will not move higher without the Russell 2000 participation. I am looking for new lows to come in the Russell and the SPX in the coming weeks.
I’m 100% Cash, getcha popcorn ready...
Published by Hey I'm Snuffles
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