ridethepig | Small Caps Breaking Down
Updated
A timely update to the Russell 2000 after running into sellers at the 1600 resistance which was previously support. Small caps have seen a huge uptick in selling interest and momentum is starting to kick in.
Buyers giving up the diagonal support is opening up a world of trouble and asking for sellers to apply more pressure. The V shapers and naysayers that its not different this time will continue with the necessary text, the question is whether real money decides to step in and stop the bleeding. After losing support the next key level in play is 1350, and a deeper extension towards 1,175.
Thanks as usual for keeping the feedback coming 👍or 👎
Buyers giving up the diagonal support is opening up a world of trouble and asking for sellers to apply more pressure. The V shapers and naysayers that its not different this time will continue with the necessary text, the question is whether real money decides to step in and stop the bleeding. After losing support the next key level in play is 1350, and a deeper extension towards 1,175.
Thanks as usual for keeping the feedback coming 👍or 👎
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