Potential 'Bull Trap' in Russell 2000
Markets experienced another round of profit taking but there was only one market showing a potential top. Yesterday, the Russell 2000 edged a breakout but today sellers put this in jeopardy with a potential 'bull trap'. The 'bull trap' in the Russell 2000 will be negated on a move above 1,433. Further losses will drop the index back inside the prior consolidation, but 'bull traps' often lead to moves to the other side of the consolidation - in this case, a break below 1,340.