jangseohee

Haphazard highs & lows

INDEX:IUX   Russell 2000 Index
69 0 3
Russell 2000 has been in sandwiched between1080 - 1210 since Oct 2013, if you find this chart ugly, you are right.
Range bound price has many highs and lows without particular pattern hence swing and momentum traders will find this suits them very well.
In order for me to officially classify it as downtrend, i would expect the price to break convincingly below 1043 (different TA might yield different price level)

Interestingly, we have election day on 4th Nov and price close almost pin point accurately at the junction (highlighted) between 2009 uptrend line resistance and downtrend channel top.

Watch out for the false break out before plunging - path 1 or re-test 1210!
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