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| S&P600 Small Caps Index: Daily Chart Close @ 02/29/12 |
The S&P600 Small Caps (just like the NDX100 & Russell2000) is a 'risk-on' indicator.
As the chart illustrates, it's been having 'none of it' in the most recent push to new highs in the other indices.
Having said that, the pattern is not overtly bearish, unless we lose the 440 level, with potential then for a move to test the 200 day SMA @ 414.
