IWM Russell 2000 small caps turn around at support

18 בנוב׳ 2014

I expect small caps to rebound at support today. Health of mkt depends on small/mid size business. IWM Rut2k had difficulties under the 1.618x fib ext level from 2007-2009. No "Excess Supply " signals is bullish here. SPY hanging just ABOVE 1.5x fib from 2007-2009 and can make a move to its 1.6x fib ext while the IWM runs to its 2.0x fib.