Currently: Cash Looking to: Buy here / sell 2297
As of 2/26/21 close: 2,199.20
LAST WEEK: We suggested selling longs / getting short at 2,320.70 with stops on a close above 2,350 and with a covering target of 2,069.
UPDATE: Small caps came down sharply mid-week and then coasted into the weekend. They may bounce here and test the previous high at 2297 or even run up to our prior target of 2,320.70. After that – down they’ll go (in our opinion). We would buy RTY futures or US small caps here with a sell target of 2,297 and a shorting target of 2,320.70. Downside on shorts is 2067. Next long entry would be 1923.