10/27/15 08:46 AM EDT

Note to the Bullish Cabal: Small Caps Are In Correction Territory | $IWM

In a note to subscribers this morning, Hedgeye CEO Keith McCullough offers a brief update on the Russell 2000.

"The Russell 2000 failed at both TRADE (1175) and TREND (1199) resistance and remains in draw-down mode -10.5% from its year-to-date (and bubble) peak - one of the best pure play ways to play a #LateCycle slowdown in the USA is via Russell's domestic revenues."

Note to the Bullish Cabal: Small Caps Are In Correction Territory | $IWM

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