Russell 2000 hugging its all-time high: the bullish signal holds, but Strength cools

The Russell 2000 trades less than one percentage point from its all-time high. The weekly bullish signal is in its 6th week and the technical structure is full, on both the weekly and daily timeframes. Yet the reading is not one-sided: Signal Strength recalibrates to 38 out of 100, in medium-weak territory, and of the three statistical profit-taking areas only the first — the 6th-week one — has been reached. A mature picture, not a reversal.