Wednesday, October 15, 2014

Capitulation ~ Maybe...

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The Russell 2000, along with the market in general, went on Mr. Toad's Wild Ride today a with gap down open and an "Oh Shit!" follow through to the downside.  Only an afternoon rally and huge volume saved this index from a very ugly day.

In fact, for the week the Russell 2000 is actually in the plus column by 1.72%.  Nevertheless, this index and the rest of the market remain in a solid down trend.  The market has sustained some significant damage the past two weeks and I would expect sideways action up until the November election.