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iShares Russell 2000 ETF
Short
Updated

Russell 2000 Bear Trend

84

Well.

1) Macro bullish symmetrical triangle fakeout leading to top signal.

2) Low volume on bullish break, High volume on reversal confirming fakeout.

3) Omicron Variant market reaction =~= Covid-19 market reaction

See SPY fakeout before March 2020 Covid-19 crash. (right)

Lastly, see bearish divergence between index and % of stocks above 200 ma (orange).
Note
Target hit.
FenixCapital
Also on:
Chart PatternsS&P 500 E-Mini FuturesTechnical IndicatorsIWMRTY1!russell2000S&P 500 (SPX500)Trend Analysis

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Chart PatternsS&P 500 E-Mini FuturesTechnical IndicatorsIWMRTY1!russell2000S&P 500 (SPX500)Trend Analysis
FenixCapital
Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.