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Takeaway: You also have a bullish catalyst (for both stocks and bonds) on Wednesday. If Yellen is dovish, that is…

POSITION: 12 LONGS, 4 SHORTS

Now that the Russell 2000 is back down to -1.3% YTD, people will sell. Sadly, that is what the momentum chasers do. But don’t be sad. Be glad. And capitalize on it.

Across our core risk management durations, here are the lines that matter to me most:

  1. Intermediate-term TREND resistance = 1181
  2. Immediate-term TRADE support = 1149
  3. Long-term TAIL support = 1124

In other words, if all you’ve done all year long is fade the Russell (both ways – buy low, sell high) and bought sub 1124, and sold > 1181, you like my jokes.

You also have a bullish catalyst (for both stocks and bonds) on Wednesday. If Yellen is dovish, that is…

Keep moving out there – risk does.

KM

Keith R. McCullough
Chief Executive Officer

Oversold: Russell Levels, Refreshed  - RUT Index YTD Levels Refreshed