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PontusTrader

Russell 2000 hitting channel resistance plus bollinger bands

Short
US Small Cap 2000 Index (TVC:RUT)  
PontusTrader Updated   
TVC:RUT   US Small Cap 2000 Index
Parallel Channel Support and Resistance RUSSELL 2000 rty IWM TZA TNA
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parallelchannel supportandresistance rut rty iwm tza tna
This is nearing the end of the bull run. The coinciding successive bollinger band breaches to the upside on the monthly right at long term channel resistance spells one major leg down coming up shortly.
Comment:
The more I look at it, the better the setup looks.

Check out this pitchfork. I have opted to only keep the 0.618 extension for clarity.
snapshot
Comment:
The pitchfork 0.618 line coincides with the 1.618 fib extension.
Comment:
And here is the pitchfork with all fibs enabled.
snapshot
Comment:
I don't know how crazy things can get. I've added all the fib extension levels now, in any case this pitchfork is the best thing to trade off of.

snapshot
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