The beaten-down Russell 2000 Small-Cap Index has reached a confluence of significant potential near-term support levels.
Stocks are off to a historically poor start to 2016. For some market segments, however, this is far from the beginning of their difficulties. Small-cap stocks, in particular, have been especially bloodied since topping in June of last year. As a result, it’s not surprising to see that small-caps are among the first groups to encounter what we would consider a potentially significant price level of support.
Now, if you have followed us for awhile, you know that we are far from optimistic regarding the longer-term outlook for stocks. That said, there are some price levels that should serve as, at least temporary, bounce points. Based on our read of the chart, the Russell 2000 (INDEXRUSSELL:RUT) Small-Cap Index is hitting ...
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