Russell 2000 is not giving up at the moment. Having broken the 2009 uptrendline on 22 Sept 2014, within the next 2.5 months, it quickly form a rising wedge under the resistance uptrendline.
Comments
treder
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it moves with uptrend under 2009 uptrendline broken on 22 Spet 2014 also August 1
jangseohee
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the important break is the late september one
jangseohee
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price movement not as predicted
jangseohee
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my take still the same though it drifts higher
A-shot
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So you are long term bearish?
jangseohee
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Ranging & distribution phase at best, the only "Force" that can prove me damn wrong is Mdm Y :-)
Though not very situation is identical, in 2007, once the uptrend line was broken, it didnt have the "QE" power to muscle upward any longer, just collapse into abyss.
Now, the uptrend line has been broken, but price can still hug the undercut of uptrend line and continue higher.
30weeks simple moving average is pretty flat.
And yes, almost 200 short positions at hand with only less than 10 long, i am consider at least mid-term bear. :-)
A-shot
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Russel wont be the only one. So im assuming you're seeing a fall in everything (US related). Apart from playing short, where would you hold the money? Any EEM?
jangseohee
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yup SPX and gang (my friends here ask me), what is Gang, well, SPX, DJIA, DJTA, COMP, NYA
so of my long positions are
i almost miss out this man, look at the volume, but i still give allowance for another plunge to flash out the bulls
A-shot
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Might be a glitch. especially as nothing came out of it.
jangseohee
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It always happen that way, by the time a big green bar comes out with volume, i want to be in it already if it is the case