Russell 2000 – Weekly Analysis
Russell stopped on Friday just a few points away from a major decision level. That makes the next move especially important, not only for small caps, but potentially for the broader market as well. In this weekly review, we examine Russell through its technical indicator structure and Elliott Wave context to assess the latest risks, outline the most probable paths, and determine whether the newest developments are signaling a breakout, a rejection, or another warning from one of the market’s key harbingers. CANDLES This week, Russell has likely made a strong move. It stopped a fallout and reacted upward in a very constructive manner, technically invalidating the previous week strong bearish candle. The odds are now with bulls and the chances for a strong bullish monthly continuation signal are rather solid. Overall, RUT is bullish until signaled otherwise. ELLIOTT WAVES We will leave the long-term outlook for the monthly update,…
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