The uphill battle for the small caps became even tougher a they began to head down a slippery slope. Resistance on the Russell held for the last week and the index finally broke on Wednesday to lose 15 points and 1%. The internals were bad and declining despite the new high on the Nasdaq 100. Since the small caps are supposed to be the sentiment indicator for the market they are flashing a bearish sign.
The S&P futures are down -9 and the outlook for Thursday is negative as traders close positions ahead of the long weekend. No new recommendations today.
New positions are only added on Wednesday and Saturday except in special circumstances.
NEW BULLISH Plays
No New Bullish Plays
NEW BEARISH Plays
No New Bearish Plays