IWM
Sp
Transports
Summary
There isn't too much to note today. Arguably, the transports/Rus'2000 are again leading the way, and warning of declines in the main sp/dow indexes later this week. A move to 1430 seems very viable, with VIX in 16/18 zone. Considering the underlying QE now underway, it seems very unlikely we'll take out the recent low of 1430, never mind the more important low of 1397.
So, a move to 1430...yet another higher low..and then take out the recent high of 1474.
For the bears, this continues to be rough weather.