From Russia, Fickle with Love

Small caps are lagging the market this morning, as overnight strength in the futures has been fading. Still, pockets of momentum are playing out, such as in a the ESPR long we have been playing over on the private Twitter feed. 

In addition, natural gas has the look of a runaway freight train, ignoring even the rally in the Dollar while other commodities slump. 

On the housing front, HD is reversing lower after gapping up to the upper daily Bollinger Band. And retail plays like URBN continue to get pounded this earnings season. 

Momentum, overall, continues to be fickle in this market. As an example, consider Russia--The daily chart country ETF presented below. RSX looked ripe for a long headed into this week, but is now gapping down and needs time, at a minimum, before setting back up again.