The Russell 2000 index is nearing a resistance level (supply zone) set in late October 2011. The price action also displays a loss of momentum (bearish divergence). Price came close to the zone on 1/3/2012 & retraced. Would look to see how price reacts and possibly short for a near term pull back or at least be cautious about opening any longs currently. A break above the zone is bullish, with no real resistance till the around the 810 or more strongly the 840 level.