Russell Breaking Out

The Russell 2000, this year’s laggard up 3.28 percent vs. the S&P500’s 12.45 percent,  has triggered a cup with handle breakout (or, depending on your perspective, an inverse head and shoulder).   The next level watch is its all-time high at  1213.55.   The Russell divergence has been a major argument used by the bear camp as they fight this incredible bull market.  Stay tuned. Dec22_RUT(click here if chart is not observable)

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2 Responses to Russell Breaking Out

  1. says:

    Gary Is your interpretation that the chart means Russell probably will go UP. I ask because of your reference to what “the bear camp” says. John

  2. macromon says:

    JP, yes. This is a bullish chart pattern. A break above old highs would be very good for the equity markets.

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