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Small Caps Maintain Selling - Tech Joins In.

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Sellers kept pressure on the Russell 2000 with the Nasdaq and Large Caps also partaking in the profit taking merrymaking. Large Caps had begun with a boost, the Dow in particular had started well, but was pegged back to finish with an inverse 'gravestone' doji. With sellers picking up the pace in the Nasdaq and Russell 2000 there is a good chance the 'gravestone' doji will hold to its name and deliver trouble tomorrow.

Bulls Make Comeback

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It didn't last long, but sellers quickly ran out of steam. Monday had the look of a profit taking, but buyers were quick to make a reappearance. Will markets make it back to Fib retracements? They look a long way way away.

Russell 2000 Experiences Profit Taking

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Friday's partial trading delivered a final boost before holiday hangover selling kicked in. There is plenty of room for profit taking in the Russell 2000; look to Fib retracements for pullback opportunities. One thing I had missed was the profit take warning in this index; the Russell 2000 has tagged the 14.3% and 12.3% push above its 200-day MA which is in the 10% zone of historic price action dating back to 1987 (see table at the end of this post).

Indices head into Thanksgiving on a High

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Well, the Russell 2000 just hasn't stopped since the election results. An incredible run. There isn't a whole much to be said on the day, although it was somewhat surprising to see higher volume accumulation. I'll leave you with the Russell 2000 chart.

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