Russell 2000 update

RUT july 15 20013

See our earlier comments concerning this particular index. A few months ago our target was roughly 1050 and we thought it might take a month or so. The timing is off by quite a bit as seems to always be the case nowadays; the move was not a straight line but up/down kind of thing that took much longer, perhaps because the various chefs in the Fed. kitchen could not agree on the right ingredients, taper, or should that be tamper, one day and none the next. In any event we are now within spitting distance of a potential peak. A sell now!