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Topping pattern in Russell 2000 fund IWM

This week, we’re watching topping patterns in several U.S. stock indices. Our latest post at See It Market charts IWM — the fund that tracks the Russell 2000 Index. Also, our next newsletter will cover more indices, so be sure to request your copy here.

The Day Ahead 2016-09-29

The S&P 500 behaved to plan yesterday by filling the first of the overhead gaps, no doubt helped along by the rise in oil. Today should see a retrace, futures getting a start on that this morning. Still will be looking higher after a consolidation phase as I continue to think that SPX has a […]

The Day Ahead 2016-09-28

The economic calendar is pretty full today with central bankers talking. I assume that will cause congestion at least in the morning today.

US 30yr bond futures 2016-09-27

I continually state that bonds are not for widows and orphans at this point and see no reason to change my mind on that statement. The big picture formation is complete to my eye, the only question left is if there is another squiggle up to test or make an additional minor high.

The Day Ahead 2016-09-27

The overnight gains have been eroding but interested in seeing if a higher low forms early this morning which gives cash markets a chance to trade up into the same area futures did overnight.

The Day Ahead 2016-09-26

The market is weak overnight and may even continue somewhat lower but should regain its footing and climb to challenge SPX 2200 or a bit more over the next couple weeks.

Russell 2000 via (IWM) 2016-09-25

The Russell 2000, and the corresponding ETF (IWM), have been lagging behind other US stock indices in making highs over that of last year. I see that as a bearish phenomenon as this was one of the darlings in the prior rallies.

The Day Ahead 2016-09-23

Today is probably similar to yesterday, subject to choppiness but with an upward bias in the stock indexes.

Gold futures 2016-09-22

I think it best to allow a deeper retrace up in gold if not a test of the high in July before turning lower.

The Day Ahead 2016-09-22

As expected, no rate hike yesterday. That sets the stage for SPX to eventually push over 2200 over the next couple weeks.