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To be cleared, it's not even a flesh wound yet. The comment is based on recent ranges and location.
Remember that during all these recent ramps/strength, the $RTY_F has continued to lag and has remained a reason for concern. It remains a key piece of the puzzle and formed part of our thesis to play for this correction that just took place.
notice how pure the reversal is on the $SHCOMP holding inside the zone (see blog post)... very technical, will be interesting as we close the week and head into OpEx
most interesting dynamic to watch until we get to early ny flows remains dxy for now
Key Inflection Point for RTY after a little 'bounce' off the lows ;-) Joking aside, 1600 mark remains a big pivotal bull/bear line.