Russell 2000 At Crossroads Still

This morning's up-gap open may be enough to rally stocks higher and in specific the SPX to a $1400 area.

The Russell 2000 small cap index remains at a critial level: right at the 50 day moving average (yellow line) and at multiple support and resitance trend lines (red lines all over).  

What we are looking for is a decisive close above SPX 1340 on a daily basis for evidence that stocks have more room to the upside.

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