Russell 2000 – Monthly Analysis

Russell closed April with a constructive long-term signal, but the structure is not as clean as the candles suggest. Behind the bullish monthly close, several theoretical inconsistencies remain, keeping uncertainty elevated and making the next confirmation especially important. In this monthly review, we examine Russell through candlestick structure, Elliott Wave context, and historical precedent to assess what the April 30 close may be signaling for the next major move. CANDLES Generally, Russell closed April with a bullish continuation candle on the monthly frame. It moved slightly above the Bollinger Band, but there is no immediate concern. The same applies to the 2M and 4M candles. The weekly frame closed on Friday with a potential bearish Inside combo, so we have to be careful with the move upward until it is reconfirmed. If you remember the March close on the quarterly frame, RUT formed a potential Advance Block. We still have…