The Mighty are Falling

A quick scan tells me BigTech's turn has arrived. The mighty are taking the indexes out, hence Russell 2000 outperformance on the downside. Good new: that could mean the final leg of the correction has arrived. Bad news: if this is going straight down, the support for the Russell 2000 is around 1700, about 15 percent lower.

I've found symmetry has been working decently in recent months. Here's why a bounce is still possible. The Russell 2000 had a small consolidation before moving up into the large trading range last year. The Russell 2000 is now at this zone. It is not a strong support area, it won't hold in a panic. But if selling pressure alleviates, this is right where it should bounce.