Russell made the historic run out of the ICL on Nov 8th. Bigger picture, there are other cycles that have dominated Russell for the past few years. It is pretty clear that the 480 CD cycle has been the most in sync with the Russell. That would be due for a cycle low in mid-March. The current ICL/ICH runs until mid-January, but it's clear that the majority of the gains come in the first 7-10 days out of an ICL. At this stage, Russell is extremely overbought, resting against channel line resistance and dealing with a fourth failed breakout in Nasdaq, along with the potential of dollar reversing.
