Tuesday, February 18, 2014

Small Cap Equities: Make Or Break For the Russell 2000 (RUT; IWM; TWOK)

IWM is the iShares Russell 2000 ETF and TWOK is the SPDR Russell 2000 ETF.
The RUT is at 1160.27 up 11.06.
From Slope of Hope:
Triple Convergence
I realize that ten days in a row of “up” in a market can put the zap on one’s brain, but I’d like to quietly point out that the Russell 2000 is lurching toward a triple-crown of resistance: first, a gap fill; second, the underside of the intermediate-term trendline from November 16, 2012, and third, the underside of a long-term trendline from March 10, 2000. So, errr, if you still want to buy because Yellen thinks it’s a swell idea, there’s nobody to stop you. Go nuts.