Russell at Last Line of Defense

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I see that the EWI January 10th "wave 3 is starting" short has been stopped out as of today (S&P cash crossed 1360). Who knows, maybe that's a sign. In any event, the Russell 2000 is mashed right up against its descending trendline. Everyone seems to be in deer-stuck-in-headlights mode since this Greece this is going to be settled (oh, absolutely! no delays! this time for sure!) on Monday……..a market holiday.