Turning Back Napoleon as Winter Approaches

The small caps in the Russell 2000 Index continues to show signs of a Napoleon Complex today, reversing down hard after a broad market gap up and, in effect, ruining what could have been a runaway move for bulls to the upside. 

Breadth is deteriorating, and was one of the first observations we noted for Members this morning off the open. 

At the bottom of the hour, however, we have the FOMC which could easily shake things up, yet again. I am trying not to over-trade this mixed tape here. 

But with IWM below $148 now as we head into AAPL FB TSLA earning, I am keeping exposure light.