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Check out this major zoomed out chart of the russell. Failed multiple times to break to a new high, and we are now seeing a bearish divergence via stochastics and MACD. Lot’s of support and nothing to panic about, but it looks like the trend may’ve changed.
3 Responses to “Russell 2K Calls for Caution”
Tony Tilapia
Book the hotels
zenhunter
One can also say there is an ascending triangle (continuation) pattern in development.
http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:ascending_triangle_c
Keith Shepard
Yes…exactly what zenhunter said. Plus, negative divergences in indicators can last for years.