Russell 2000 hugging its high, yet the engine behind the rally loses momentum
The weekly bullish signal on the Russell 2000 is in its 9th week, with the index trading less than 1 point from its all-time high. The technical structure is full, but Signal Strength recalibrates to 38 out of 100 and two of the three profit-taking areas have already been reached.
Russell 2000, the buy holds but weekly momentum loses steam
The Russell 2000 has been in buy mode for 8 weeks and trades near its highs, but the weekly structure is starting to lose conviction: MACD fading, buyer participation declining and the first profit-taking area already reached. A maturing picture, not a reversal.
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, with the weekly bullish signal in its 6th week. The technical structure is full on both weekly and daily, but Signal Strength recalibrates to 38 out of 100 and only the first of three statistical areas has been reached.