If the major indices try to rally, but the semiconductor and banking sectors don't keep pace, there's a very good chance the rally attempt will falter.
The Russell 2000 (RUT) was the best leading indicator to the correction that we are now witnessing and may well provide clues that the path ahead should not be as steeply upward as was seen between July and September.
Though the S&P and Dow are still firmly above their October lows, a breakdown to a "lower low" in the Nasdaq could cause the S&P and Dow to follow suit very rapidly.
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