RTY Update

RTY MFI overbought again....

It's like they're trying to melt it up for some reason. Really odd considering retail tanked today. Could just be a gap fill attempt.

Whatever, probably best to stay out for a day, most garbage stocks are small cap

Comment:

Long term, I think we're looking at a recession. the Fed has no way to combat it now that inflation is out of control. They need to raise rates or else we see hyperinflation.

I said this freakin 2 years ago when Powell cut rates that he'll run out of ammo if there's another crisis. Well, here we are. Can't do QE or cut rates, supply chain problems persist, now commodity prices are going to start impacting household spending.