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In the confines of my (currently suffering) bearish portfolio are a couple of airlines – – American and United. By using the Sectors feature in SlopeCharts, I decided to thumb through all the airlines to see what interesting short set-ups might be out there.
This is a pretty thin reed, but I’ve got nothing else to say, so I might as well proceed. After all, how much ink could I possibly spill about a day in which the S&P futures went up 0.11%?
Anyway, before I went to bed on Sunday night, I noticed the small cap futures (/RTY) had found support at about 2071. It had, just as what happened back around January 19th, February 10th, and February 15th, pushed itself into the highest echelon of its multi-month range and was levitating above the apparently magical 2071 level.
This is one for the books, folks. There but for the grace of God (well, no, even I’m not THIS dumb):
