Friday, September 5, 2014

Momentum back at 2007 levels for Small & Mid caps

by Chris Kimble

joefridaysmallmidcapsmonthlymoat2007levelssept5

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Small and Mid Caps monthly momentum is reaching lofty levels, last seen in 2007.

At the same time both are hitting Fibonacci 161% extension levels based upon their 2003 lows and 2011 highs as a resistance line off the 2003 lows is coming into play at (1) above.

Joe Friday just the facts - This situation is not bearish at this moment. It does suggest caution for long-term bullish holdings.

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