The Russell is Telling us That Someone Thinks They Know Something

The E-minis ($ES_F) caught a strong bid last night during Asian trading and haven’t looked back thus far in today’s regular session. Either someone thinks they know something or we are seeing a classic last week of August short squeeze. Whatever it is, a push above S&P 1210 ($SPY 121.20) could send the bears running for cover:

 

 

The Russell 2000 small-mid cap index is leading the market powerfully higher today, the $IWM is usually a prescient leading indicator of overall market risk appetite:

 

 

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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