High Stakes Game of Kiss and Tell

Bears made a sneaky move within the last hour or so, slowly walking the market down before sell volume accelerated. 

The IWM, ETF for the Russell 2000 Index small cap stocks, illustrates a "kiss" off the declining 50-day moving average. Earlier today, bulls were seemingly in control of a market which had plenty of reasons to sell-off. However, that kiss gave way to a fade. 

And, now, as we wind down the session the issue is going to be whether buyers looking for the S&P 500 to head up towards 2000 may get a bit nervous that the recent rally is running on borrowed time. Indeed, rallying up to a declining 50-day moving average for the first time this year and fading does seem like a textbook short setup. 

Looking at the healthcare/biotech action, combined with financials notably weak, I suspect bulls will need to immediately regroup to stem the tide and live to tell about their rally after the small cap kiss.