An interesting chart for small caps - RUSSEL2000. We're approaching the previously strong support level of 650. So looking at the weakening momentum, it seems to be a good shorting entry point.
Monday, October 12, 2009
Are small caps weakening?
As was expected, the big caps are the leaders of this new wave up. The XMI - Major Market Index (20 biggest capitalizations) has closed last Friday at new cyclical high, while others (Nasdaq, SP500) are a bit lower.
An interesting chart for small caps - RUSSEL2000. We're approaching the previously strong support level of 650. So looking at the weakening momentum, it seems to be a good shorting entry point.
An interesting chart for small caps - RUSSEL2000. We're approaching the previously strong support level of 650. So looking at the weakening momentum, it seems to be a good shorting entry point.
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