Wednesday, October 28, 2009

Small Cap Index Confirms Double Top

Yesterday I wrote about the weakness I was seeing in the small cap stocks and today we saw these stocks lead the stock market lower. The Russell 2000 index ($RUT) was down 3.51% today and was clearly the weakest when compared to the Dow, S&P and NASDAQ.

The Russell 2000 index confirmed the double top formation today by breaking below support. The downside objective for this index is the 529 area.

1 comment:

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