Russell Uptrend Still Intact
Burak Caplan | Jan 06, 2016 07:24
The uptrend on Russell 2000 from 2009 bottom is captured with the red channel, The previous bottom band held at the previous hits which makes this channel mature and susceptible to a break down. Considering the recent weakness, it may break down at the next hit after a brief bounce and once that happens, we may expect strong drop on all indices. This is the reason one should check out several indices when deciding the entire direction of the market. One of them always gives a better signal than the others and this time it's Russell2k.
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