Seemingly an index that is traded off of technicals, traders could see today's rapid pullback as the beginning to a larger correction. After a double-doji top, the Russell 2000 could not expand upon all-time highs (NASDAQ is next).
Price action on the was nicely confined within an before breaking through and quickly topping. Noticeably, price action formed an ascending . This is a reversal pattern.
I began noticing that assets that were out of vogue, like gold and silver , were presenting descending while those favored are looking toppy and forming ascending . I digress.
support will be the most likely near 1,227, while price action will see 1,220 where price action and the 50 (currently) is holding up.
Ultimately, the Russell 2000 can see sub-1,200 in mid-to-late April. Record accumulation looks to start seeing a period of distribution, and price action is switching from to .