I just posted the 60-min charts of IWM & /RTY with potential targets on the home/blog page. Plenty of meat left on the bone IF this doesn’t prove to be a sucker’s rally. Of course, that’s what stops are for so while an IWM long taken home tonight runs the risk of a big gap down against it at the open tomorrow, a stop (or layered stops) on /RTY should help to protect profit or minimize losses if this rally fizzles out just as it starts to get rolling.

Right now, I am what I would call ‘skeptically’ or ‘cautiously’ bullish on the near-term outlook for the stock indices, favoring the small-caps over the large-caps although the latter most likely won’t go very far if the former doesn’t rally as well.

Also, (to all) don’t forget about the new micro E-minis as an alternative to /NQ, /ES & /RTY. They trade at the same price level (i.e.- same chart & price targets as the /RTY 60-min I just posted in the most recent post) but with a smaller leverage factor: /MNQ, /MES & /M2K.