There's been chatter in the comments section lamenting the relatively infrequency of my IWM musings, now that OIH and company have pushed it aside. Well, let me throw you guys a bone:
As you can see, the Fibonacci is doing a yeoman's job of keeping the bulls at bay. There was a bit of a violation of this line a number of days ago, but it was swiftly tamped down.
This morning's lame-o consumer sentiment numbers snuffed out an early rally (I'm only typing this 40 minutes into the trading day, so keep that in mind). I suspect the bulls – like Bill Clinton, shown below – may soon be asking themselves, "what am I getting myself into???"
