Incredibly, the market was allowed to go into the red for a full hour. The Russell 2000 futures have plunged, once again, to their major Fibonacci support level. This happened last week, on Friday morning, after which our friends in D.C. made sure the market did nothing but rip higher.
I will say that the sinewave trades I am in (XRT, XLU, IWM) continue to do well. The next phase for /RTY, clearly, would be to bust the aforementioned Fib so we may fulfill the lower of this cycle.
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