Select Page

Change of character.  The IJS’s 200 day moving average was very supportive last spring.  After a 27% rally off the Christmas week lows the IJS(iShares S&P Small Cap 600) the 200 day is back in play, now a heavy resistance area.  The index is holding initial support(December high) after this week’s slight fade while overhead pressure builds.  A close below $153.00 could spark a deeper pullback.  Retest of the January high would be the next target.