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Russell 2000 takes back 200 day moving average

|Includes: iShares Russell 2000 ETF (IWM), TWM, UWM

So many people focus on the 200 day moving average. Most people, it seems to me, look at the large caps only when looking at any moving average. You would think that since small caps typically lead a new bull rally they may lead us out of a correction. The small caps got above their 200 day today. The large caps have not been able to get above their 200 day yet. I will be keeping a close eye on the small caps to see if they can get above the resistance area of 649. As I have mentioned in previous posts I still have a long term buy signal in place so I am leaving my longer term money in the market for now. There have been tons of short term sell signals on my system so I am a little indecisive right now. I don't think it will be too long until a direction is determined.

Click on chart to enlarge