I’m typing this on Tuesday night. Early on Monday morning, I did a pre-opening post called The IHS Threat which – – awwww, hell, c’mon, go read it yourself. If I wrote it at 5:30 in the morning, you can surely trouble yourself to read it without me summarizing it. In any case, the “threat” is looking very close to “reality” at this point:
If it crosses the neckline, which as I’m typing this seems nearly a foregone conclusion, what next? Well, the reaction is going to be very important. If it just lets fly, it could easily fly to 2160 on the /RTY. On the other hand, if it gets a little above the breakout and then sputters below it, we may have exactly the same thing we last time this happened, which is a great entry point for shorts.
