14May11:27 amEST
On the Russell 2000 Index ETF 30-minute chart, below, note how the $123.30 level we have been observing throughout May continues to assert itself as a significant one.
With today's rally in the market, bulls figure to make a go at soundly reclaiming it this afternoon. Failure to do likely means more of the same pre-summer trading chop.
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“chessNwine” has been a popular trader and financial blogger since 2009. His work has appeared in The Wall Street Journal Online Edition, Yahoo Finance, TheStreet.com, Josh Brown’s The Reformed Broker blog, AbnormalReturns.com, Barry Ritholtz’s The Big Picture blog, and the “Suggested” stream on Stocktwits.com.
