RUSSELL (IWM): The Russell staged a big move off the lows at 960 and has been consolidating for a few weeks above the important 1075 level ( $108 in the $IWM).
A golden cross is coming and this would be consistent with the reaction we are also seeing in correlated asset class of high yield ( see $HYG chart) as pressure on smaller companies is coming off with interest rate hike expectations.
TBT: Markets are trading in a range as are US rates. We are near the bottom of the cycle on the long end of the US Treasury curve and $TBT has been holding each time the US 10yr has bounced at 1.60-1.65% on yields.
