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Analyst Chris Kimble thinks we might be seeing triplets in three major indexes — the Nasdaq 100, the Russell 2000, and the S& P 500.
Chris comments: The 500 index, Russell 2000 and Nasdaq 100 all touched their 50% retracement levels, which so far has stopped strong rallies on a dime!
Each of these might have created inverse head- and-shoulders patterns, yet the big technical line in the sand is the neckline, which in all three corresponds to the 50% retracement level.
For those looking to score on defense, buying the inverse ETF's at this 50% level makes a ton of sense, with reversal stops should an upside breakout take place.
This won't be "play-time" if the three indexes start heading south together!
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