Editor's note: This is a brief excerpt from Hedgeye morning research. Click here to learn more about how you can become a subscriber to the fastest-growing independent research firm in America.
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Things that crash…bounce.
Over in the Gong Show that has become Putin's Russia, the RTSI is up +4.2% this morning after being up big on Friday. That said, Russia is still down a monster -42% year-to-date (which means only +72%, from here, to get whoever owned it up there back to breakeven!).
There is massive resistance for the Russian Trading System in the 885-912 range (no support to 623).
No, it's not looking good for Mother Russia.