Russel 2000

The Russel 2000 index of small stocks in the US has started to underperform the US market for quite some time causing some inter market divergences. Also it is now leading the way down this week while the Dow is closer to its highs apart from yesterdays one day sell off. So I looked at the weekly RSI and saw that the index has multiple negative divergences all year long starting July 2013. So every top since last year saw a lower top in the RSI [Green line on top] Prices did fall to the 40wema in April and bounced back to form one more divergence and prices are currently below the 20week average already. If the 40wema at 1128 breaks again on closing basis [meaning Friday for a weekly chart] then it would be a sign that the divergences are finally giving way to a bigger sell off for this index.