Get started
Ian_Carsen

Russell Ready to Bust Bull Flag 7-17-18

Long
US Small Cap 2000 Index (TVC:RUT)  
Ian_Carsen Updated   
TVC:RUT   US Small Cap 2000 Index
Chart Patterns Equity Stocks
2
0
chartpattern equity stocks
Hello friends, it appears the Russell 200 is ready to bust above the current chart formation. Russell breaks of major trend lines have been major indicators of micro trend changes reliably in the past. A failure or break below this flag would be extremely concerning.
Comment:
Russell is coming back to test flag boundary. This is not what I want to see in terms of strength. It is a bit oversold methinks and should bounce, but if the bounce is not convincing I would be looking to short with an eye for further declines ahead.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.