Buh Bye Russell

Where You Lead I Will Follow

I posted this on LinkedIn and wanted to make sure everyone saw it:

Did you catch the close on the Russell Index? While bumping the 1,670+ level earlier in the day, a second attempt to reverse the trend failed despite AMZN putting out stellar earnings. AAPL's earnings will not be as friendly but I'll keep in mind that I'm buying a couple MacBookPro big screen laptops if they come out "supercharged" before the end of the year. I'm running on empty with my 2019 versions and in short, it's time. Not so sure if others are following my lead and until the iPhone 16 Max comes out I'm happy with my iPhone 12 Max.

While closing well above it's earlier lows of 1,639 the Russell is sending the same signals it did in October 2021. If it breaks this level on increasing volume the lower side targets of 1,000 are entirely possible. Time will tell.

The Russell is primarily comprised of second and third best tech and banking firms, not exactly the stocks I'd put client money in. Most solid managers abide with how I feel. How about you?

Back to the Udemy course(s) and my book “The Ticker’s Bible”. Trust all are well.

Carol King must be short the Russell. It only makes sense given her song “Where You Lead”. Go back in history, the Russell always leads. In October 2021 it said “dive, dive and dive”. It was rioght; the rest of the indices followed. I’ve bee short for a while and added a few today whe it tried to rally. It’s time for the same pattern to emerge, finally. Let’s see how far down it goes.