Since the March 2009 market bottom, the price has been trapped in RISING WEDGE nicely ever since.
This Russell 2000 index is a representation of DJIA, DJTA and SPX, meaning that all DJIA, DJTA & SPX are having
nicely run monthly log chart of rising wedge!!!
Prepare for next euphoric state!
The RUT on the weekly is in a area of
whipsaw and still has not shown its hand.
I am waiting for a break of the Jaw Line- blue line
before lookng for short setups on the daily.
Still in a double top formation but buyers are
still keeping it up. Next weeks GDP numbers
are likely to move this
Generaly, I do not make public studies concerning IUX unless they is a clear or obvious pattern because contrary to other indexes, I do not follow on hour base this index as I do for SPX DOWI CAC and DAX.
Having said that, there is a clear opportunity for those who wishes to enter short RUSSEL 2000 because unless I am mistaken, there is a very very clear double...
A potential for a head and shoulders top over the weekly chart here, a major one that suggest at least a retest of the main rising trend line as an initial target, a break below 1180 will confirm the bearish setup for me. The price is also pushing to the 52-week long term average for the first time since 2012, which follows an earlier breakout below the first...
Friends,
As this small cap nears a significant resistance level at TG-1 = 1246.09, I added multi-year momental lines projections into parallels to highlight significant dynamic and static support resistance areas.
The momental lines acting as dynamic support/resistance across the field can also help correlated with the static target levels defined by the...
