jdouce03
Short

Russell 2000 Bearish Outlook

INDEX:IUX   Russell 2000 Index
A breakdown here would indicate long-term momentum is continuing to stall.
The purple line is long-term resistance that is generally well-respected. If we continue to respect this line, I think the markets will have a tough time grinding higher without the bears stepping in. The dashed red line is a broken long-term trend-line for the current bull market, which strengthens the bearish case IMO             . Overall, I am neutral-to-bearish, and am looking at an initial price target of roughly 1150.
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