Just pointing out where the Russell futures are right now.
We’re right at the downtrend line now. If this is a retest, I would love to see it find support here, but things look grim. I don’t see a catalyst for a rally. We have University of Michigan Consumer Sentiment in a couple of hours, but for all we know, that might make things worse and it doesn’t look like it’s going to come in time so save this trend line. A bounce here would make sense if we do bounce. If not, we will probably target the prior low (green arrow), I would have to suppose:
The cash index is going to open already under its trend line.
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