Thanks Randy.

Yes, IWM tested the bottom of the support/resistance zone which defined the top of the early Dec – current sideways trading range today & managed to close right on the top of that narrow support zone. Although it’s hard to predict which way prices will break out of a multi-month sideways range solely looking at that chart, based on my read on the charts of SPY & QQQ it appears to me that the odds highly favor the recent breakout above the top of the range in IWM failing, meaning that price soon fall back below the S/R zone at the top of the range & then continue lower to break out below the bottom of the range, falling at least to the 130 area in the coming trading sessions. I outline that scenario starting at the 13:27 mark in this video published earlier today: http://rightsideofthechart.com/index-sector-analysis-video/