The TNA short/TWM long trade idea entered on March 4th exceeded the suggested stop of a close above 1130 on the $RUT on Friday, accounting for a 13.7% loss on TNA (or about a 9% loss on TWM). Although this trade will be removed from the Active Trades category & assigned to the Completed Trades, it still appears that the odds for a reversal & substantial correction in the Russell 2000 Small Cap index appears likely as the $RUT is now challenging the downtrend line off the mid 2015 highs with negative divergences in place on this daily chart.

For those still short or looking to add short exposure here, the $RUT looks to offer an objective short entry or add-on with a stop on a solid daily close above this downtrend line AS WELL as a solid daily close above 11.84 on QQQ, which is the top of the very technically significant New Year's gap.