$S{Y 500 managed a minor breakout yesterday above the April high as it slowly grinds it way up to the 0.618 retrace tgt of 293. There is immediate resistance at gap above but $ES futures are again trading about .33% higher from yesterdays close.
$SPY is now above its 50-day MA and if it takes out the gap resistance then 293 target remains viable.
$WTI June futures contract crashed by 25% yesterday. Currently $WTI is trading down another 20% from yesterday.
Small Caps (iShares Russell 2000 ETF (NYSE:IWM)) rocketed up 3.96% yesterday, by far the greatest out performance in indices. When #OIL gets in gear with the equity indices bullishness $IWM small caps will likely outperform $SPY substantially.
$SPY is now above its 50-day MA and if it takes out the gap resistance then 293 target remains viable.
$WTI June futures contract crashed by 25% yesterday. Currently $WTI is trading down another 20% from yesterday.
Small Caps (iShares Russell 2000 ETF (NYSE:IWM)) rocketed up 3.96% yesterday, by far the greatest out performance in indices. When #OIL gets in gear with the equity indices bullishness $IWM small caps will likely outperform $SPY substantially.