Published on: 11/21/2011 by Nigel B. 180 days ago
The Russell 2000 index broke down from it’s triangle and closed below a support level. Tonight it is retesting it’s breakdown point. A move below yesterday’s low is a short trade with a stop above yesterday’s high. If triggered, the target would be 640 or lower. Notice that both the daily oscillator (red) and weekly oscillator (white) shown in the lower panel are trending down. This is indicating that the break could lead to a nasty flush over the next week or so.