The market rig of the last two weeks has finally ended.
The Russell 2000 has broken down. This index leads the S&P 500: note how the blue line soared before the black line followed suit back in December 2016. If the Russell 2000 is breaking down now, it’s only a matter of time before the S&P 500 follows suit.
Worse for the economy bulls, the Dow Jones Transportation Index is also breaking down. This is the most economically sensitive index. And it’s telling us that those investors who believe the economy is “roaring” are about to get destroyed.
Buckle up, it’s a long ways down.
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Best Regards
Graham Summers
Chief Market Strategist
Phoenix Capital Research
via http://ift.tt/2qJ6Obb Phoenix Capital Research