Editor's Note

The Russell is setting up for a test of critical support at 1,400. The majority of small cap stocks are alreay trending lower. The market divergence is increasing with all the indexes negative except for the Dow. If you simply looked at all the other indexes it would appear the August decline has already begin. The Dow is the lone winner and it was a fight today to remain in positive territory. August has been down 5 of the last 7 years. August has only been up 5 of the last 20 years. Typically, the August decline begins in the second week of August. The S&P futures are down -3 points already tonight. There is no reason to add risk on a summer Friday.


No New Bullish Plays


No New Bearish Plays