Small Caps are the Problem

As pointed out last night in my video, for a Santa Rally, the Russell and NASDAQ 100 should be leading, take a look at the opening.

 The Dow is up +.24%, but look at the Russell 2k...

 In the red, this shows a defensive market and late last week I said over and over, "Don't forget about TZA" which is in the green this morning with EDZ as well.

I was trying to make the point last night that small caps need to lead the rally, not defensive large caps.