Rut's ranged in the same area for over 6 months now and might be starting to break. We currently have a butterfly pattern and what can turn into a head and shoulders with a flat neckline. Brutal breaks come from those when they come to pass.
RUT may starting to form the first parts of a bear move. We've had a 5 wave decline and ABC correction to this. This may have built up a bigger elliot leg. If this is making a big wave 2, the break of the low would be a really strong move starting.
Pareto's law says that roughly the top 20% of the market constituents should roughly represent 80% roughly of the overall market cap, and vice versa: the bottom 80% of constituents will represent 20% of the overall market cap.
When price seems irrational, and higher cap stocks start to represent more of the market than previous decades, and thus are given a...
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Underestimated previous confluence area, but HODL because RUT finally dropping and will hit lower lows. Look at current trend and it is obvious that history will most likely repeat itself. Sell when RUT RSI hits below 30. Do not hold too long or will get burnt. Bearish Gartley proving to be correct and trend will very likely continue down much further for following day(s)
RUT has been consolidating between $2123.55 and $2348.03, for this year 2021.
-RUT price breaks up above resistances to new all-time-highs.
-Resistance levels: $2348.03, $2392.66.
-RUT price pulls back down to test supports below (horizontal and trendline supports).
-Support levels: $2240, $2123.55, $2060.54.
Note: On the...
It looks like we are about to enter a 5th wave with a target of 3600
but now we are still in the 4th corrective wave . we have to make 5 waves up to confirm resuming the uptrend
FYI : I am not a professional analyst and those are just a personal ideas to get more experience , your feedback is highly appreciated
The Russell 2000 (RUT) is at the lower support area of a bound trading range since February. Two key indicators already broke down this week. 1) The index dipped below its 200d moving average today. 2) The index is made up of small-caps, and the ratio of performance between small and large caps broke down this past week as well.
My answer to this question is Yes..!
It is highly likely that we were experienced the Melt-up in Small caps between March 2020 and February 2021 in the small caps!
The sharpest move (+144% in 12 months) in the past 23 years!
What Is a Melt-Up?
A melt-up is a sustained and often unexpected improvement in the investment performance of an asset or asset class,...
The Russell 2000 small cap index led the market between November and March. Now following a healthy period of digestion, it may be coming back to life.
The main pattern on today’s chart is the series of higher lows since July 19. Combined with the resistance line around the 100-day simple moving average (SMA), that’s a bullish ascending triangle.