Wednesday, September 24, 2014

Naked Gun To My Head

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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.