The RUT appears to have completed a post triangle trust up from the end of the Horizontal Triangle on 5/1/18.
The widest part of the Horizontal Triangle, the Jan to Feb decline was 179.09 added to the end point of the Horizontal Triangle of 1527.71 targets RUT 1706.80.
The Actual top on 6/20/18 was 1708.09 a near perfect hit.
Daily RSI has a bearish divergence and the top came only one day before the Summer Solstice.
For two months the RUT has out performed the SPX, now there could be a role reversal. I still think the SPX can reach the 3050 area.
Quality stocks top out last. In 2007 the RUT topped in July the SPX topped in October.
Overall bull market is likely still intact, if RUT has topped. it's the first step in a multi - month topping process.
Mark
The widest part of the Horizontal Triangle, the Jan to Feb decline was 179.09 added to the end point of the Horizontal Triangle of 1527.71 targets RUT 1706.80.
The Actual top on 6/20/18 was 1708.09 a near perfect hit.
Daily RSI has a bearish divergence and the top came only one day before the Summer Solstice.
For two months the RUT has out performed the SPX, now there could be a role reversal. I still think the SPX can reach the 3050 area.
Quality stocks top out last. In 2007 the RUT topped in July the SPX topped in October.
Overall bull market is likely still intact, if RUT has topped. it's the first step in a multi - month topping process.
Mark