The Russell2000 needs to be stopped; the small cap index is filled with flaky names that have yet to make profit.
These companies, for the most part, don't earn money.
This index will continue to get crushed.
We played the upside breakout to 240s, and we also played the downside break to 190s.
I called the top on this index at 225.
I am forecasting lower.
The CCI is egregiously overextended, we have pitiful volume on strong moves to the upside, and we just created a gap from today's strong move higher.
We have a recipe for a 500% trade with put options.
These companies, for the most part, don't earn money.
This index will continue to get crushed.
We played the upside breakout to 240s, and we also played the downside break to 190s.
I called the top on this index at 225.
I am forecasting lower.
The CCI is egregiously overextended, we have pitiful volume on strong moves to the upside, and we just created a gap from today's strong move higher.
We have a recipe for a 500% trade with put options.