Russell 2000 Index Futures Chart
Small cap stocks and the Russell 2000 Index INDEXRUSSELL: RUT have been laggards.
And they are now feeling the burn.
The Russell 2000 is positioned to weaken from here.
The comments on the chart outline downside triggers and our initial downside target.
The ellipse reversal changed our stance from long to short. A move under the 50 day moving average would strengthen the move lower / short positions. Caution is warranted.
The author may have position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.