RUT2k Updated

Yesterday’s post wondered whether the Russell 2000 was going to hold and rip the shorts’ heads off or break down.  Well, they sure don’t make it easy do they?  It made a false breakdown and got back above the line.

So if the market has another upward thrust in it I wouldn’t put it past the RUT to gain some relative momentum.  The silly potential target we have had on the R2k for over a year now is around 1350.  That is the running mate of the silly target on the S&P 500 of 2192 (looking much less silly now).  A question frothed up bulls need to consider is will there be a correction first?  I think there will because the market’s internals are starting to suck wind.  But we will see…