|The Russell 2000 remains in consolidation as both the Nasdaq and the S&P 500 hover near 52-week highs. The bears failed to move the market lower today after yesterday's trend change in the Market Trend Model (http://bitly.com/M_Trend_Model) ~ a very frequent occurrence in the QE Infinity market. However, despite today's impressive stock rally, the Russell 2000 has yet to begin a new uptrend.|
Gun to my head, I think the bears will give one more shot at pushing the Russell 2000 lower in order to undercut the August 1 low. In the meantime...trade what you see, NOT what I think.