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As er2 couldn't break down today, now it is more likely we see it do a slow climb tomorrow (outperforming ES, again!) up to the Fed announcement @ @2:15 and then likely a selloff into the close...this pattern has happened so many times on Fed days, it's how I would expect tomorrow to play out...

It is a tough short today... this could grind higher until Fed annoucement and then sell off tomorrow afternoon. After that you also have qtr end window dressing which will keep it elevated... due to these factors, I don't see a major sell off until start of April.

can you elaborate your thinking...dovish Fed statement bad for small caps? or the equity market in general? or do you mean to say money will be moving into large caps from small caps?

it's an interesting market indeed... small caps up , most else down (AAPL broke below 60 intraday, GOOG languishing.. edit: not anymore- up on s&p 500 addition) oil up, bonds down.... dollar up market seems bearish given Nasdaq can't get over resistance 2333, dow 11340 NOTE: these...

small caps holding up again... tough to make anything of this action...

Cool !

hmmm.... % of stocks above their 50 Day Moving Average... month ago = 70.4% today = 58.8% (yesterday = 55.3%) If this is such a great bull market, at least the overall participation doesn't confirm it. Doesn't this signal a weakening trend?

You are correct! I wonder why would anyone be afraid to buy this market -- it's an ATM for the bulls! Another new high for tomorrow?

wow...as if yesterday never happened.

Dow has some serious resistance from 11280 thru 11340. I am looking for the overall market to fail and wouldn't be surprised if it becomes a replay of yesterday.

Great. I think you are on the right track. Good trading!

We miss you here... Seems we've highjacked your thread! Good luck in your trading.

SWEEEEET! one of the best days so far this quarter.. This is what I meant when I said that ER2 seems to want to take the long way home...It had to spike to above 755 from 744 before going to below 740! It must be that many started shorting this market too early and had to contribute to a...

Good to hear you made some $$ -- yes, the next few days will define which way its headed...it could be more probable Russell2K is headed down for now... <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1015120>

...thought today might start the slide but then again it became a nothing day...wonder if the market is heavily shorted that it can't make its move down...may be it will take the long way home shaking longs and shorts alike. Daily ranges have been so narrow for the longest time, my patience is...

It will be interesting to watch this next week (after futures expiration today)...yesterday and today, er2 actually got weaker towards the close (relatively).. it seem to be running out of steam since the beginning of March (eventhough it was making new highs). Negative divergences in...

It could be that I'm not interpreting the chart correctly... If this is p/c .. more puts will give a high ratio, right? and isn't it the case that more puts are bought (high extremes) when there is fear in the markets? which usually indicate a bottom. i.e., bullish just looking at the...

Wouldn't you interpret these current p/c ratios, bearish for the market?

Yesterday and today, lot of talk on CNBC relating to how Russell 2000 (small caps) is kicking butts of large caps... Is it enough of a contrarian indicator? hmmm....