Wednesday, June 25, 2014

Russell 2000 Consolidating

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The Russell 2000 is consolidating its recent gains as traders turned nervous on Tuesday.

Despite a nasty reversal on Tuesday, today's market shrugged off yesterday's selling in the face of apparently bad news.  
Q1 GDP was revised downward to -2.9%, the weakest reading in a non-recessionary economy in the last 50 years.

It would appear Bulls see this as weather related and sets up the scenario for a Q2 GDP snapback.