yauger
Short

Russell 2000 rolling over

AMEX:IWM   ISHARES RUSSELL 2000 ETF
The advance we have since early February is getting tired with the bulls showing signs of fatigue everywhere. Using the etf IWM             that mimics the Russell 2k, we see many signs of exhaustion: Oscillators are diverging, volume is lessening, the wavers can count 5 up but the most powerful sign is a rising wedge ( a diagonal triangle under the Elliot Wave Principle ) a structure indicating the market has been going too far too fast and we are now due for a pause of unknown magnitude. Breaking the lower trendline of the wedge on Friday afternoon was the sell signal. I am short and watching the market to tell me when to cover
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