In today's update:
1) The Dow 30 closed out a very quiet low-range, low-volume day with a slight gain while the other three main equity indexes closed in the red. The Dow Jones Industrial Average gained 8.41 or 0.03%, the S&P 500 fell 5.11 or 0.17% while the Nasdaq 100 closed lower by 26.01 or 0.32% and the Russell 2000 finished lower by 19.54 or 1.26%.
2) Crude Oil Futures rose slightly gaining $0.40 or 0.70% while Gold Futures spiked another $22.80 or 1.63% to levels not tested since August of 2013. The Bond market showed strength and the yield on the 10-year Treasury Note dropped to 2.017%.
3) IWM, the Ishares Trust Russell 2000 ETF, has been dropping since early May of this year and today flashed another two bearish signs. IWM failed to surpass the $155 level (a key level of overhead resistance) and closed below its 200 simple moving average. If IWM fails to hold support at its 20sma it is highly likely to retest its recent low of $145.00 and potentially drop as low as $125.00.