First blood drawn, but give me 6 more trading days to redeem...

INDEX:IUX   Russell 2000 Index
76 0 1
"Now that your first blood has been drawn, you have 6 more days to redeem yourself or be ready for bull wreckage" - the last stern warning from bull (before the bear takes over)

The green uptrend channel was drawn all the way back to 1988 data using log scale while the uptrend line was drawn from the 2009 lowest bottom. Although the bull promised to take care of Russell 2000, the bear managed to sneak behind and draw first blood from him.

Why 6 more trading days to redeem?

On a daily chart , the break away gap and close way below the uptrend line is a signal of violation and end of uptrend.
Weekly chart doesn't look good either but weekly candle will only be completed by end of this Friday's trading.
By 1st Oct, the monthly candle for Sept would have been formed (also 3 quarter candle also completed by then), that is 6 days away from now.

If price manage to find its way back above the uptrend line, there is still some hope but the uptrend is already questionable.

If price does attempt to linger around the support turned resistance trendline but couldn't close above uptrend line, then bull will handover completely to the BEARs :-)

P.S. I am still very amateurish in Technical Analysis , please enlighten me if i am wrong :-)

Related Ideas

EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out