I posted about the Russell 2000 Index through the week. The small cap stocks are so over valued, much more so than the mid to large caps. If we see this weekly uptrend fail on the RUT then watch out.
The S&P 500 is exactly as overvalued now as it was in Oct 2007 at a PE of 15.2. If the S&P corrects, the RUT could correct by much more. I am not saying it will but we need to watch this carefully.
Below: The Russell 2000 Index daily chart
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