Despite spending most of the day in positive territory, the Russell 2000 finished the day with a weak close that ended up below the trendline we've been watching the last few weeks. The next key level to watch will be the 830 area. If we get a close tomorrow below 830 it would indicate some addition weakness and a failure of the recent uptrend. The overall sentiment is still bullish so lets watch to see if we get some more positive earnings this week and/or we get some more merger news to lift the market.
Reminder that the Fed's Beige Book comes out on Wednesday at 11:00 Pacific Time -- this moved the market up swiftly last time it came out so be aware that it can be a market mover... (no way of telling how the data will be taken until the market reacts to it so just be conscious of it)
RUT Daily Chart Showing Break of Upward Trendline (Click Chart for Full Screen View)
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