Russell 2000

U.S. Index futures are pointing to a lower open in the markets, mirroring a downbeat start for European equities. On a micro level, U.S. Index futures have fallen despite the release of mostly better-than-expected company earnings today. Boeing, for example, reported Q2 revenue of $24.3 billion and core EPS of $3.33 and boosted its revenue forecasts, beating expectations of $23.7 billion and $3.27 respectively.
Right now, we have a divergent market where the Dow is still wrestling with the middle of the range while the small caps are leading to the upside. The wild card could now be oil stocks now that oil peaked in its 233-day window and made a hard-right turn through near-term resistance. As you can see from the chart below, there were two main support zones based on the recent action going back to the low in February.
CME Group, today announced the successful launch of futures and options based on the Russell 2000® Index.
Market remains in sideways range since Brexit vote. Jobs number will cause a break out or break down.
George Tkaczuk talks about the current equity market and financial sector that is benefiting from possible rate hikes.
George Tkaczuk talks about the ongoing strength in the market and a set-up in Silicon Motion Tech (SIMO).
George Tkaczuk talks about the breakout in financial stocks and the start of a new bull market.

Technical Developments:

The index has since resumed the decline lower, unfolding in a double corrective structure WXY where wave W ended at 1124.75, wave X ended at 1146.72, and wave Y is in progress towards 1060.71 – 1077.14 to complete wave (W).
Daily update of the CPFL and MAAD indicators.