Tracking Russel very closely here
Here we can see that the Russell which was previously leading the pack is now lagging behind of late. It is important to keep one eye here as both NQ and S&P broke to new highs this was not the case in Russell.
The support at 1,475 - 1.480 has not really been tested and the Index has held above. There is an ABC sequence target there as well as the 38.2% retracement from the current highs. Both of these are indications that the underlying uptrend remains in tact, however it is too early to tell if this impulsive or corrective.
A tick above 1,603 highs will increase confidence in an impulsive advance. Till then there is little to see or do here.
Best of luck all those tracking this one in live.
The support at 1,475 - 1.480 has not really been tested and the Index has held above. There is an ABC sequence target there as well as the 38.2% retracement from the current highs. Both of these are indications that the underlying uptrend remains in tact, however it is too early to tell if this impulsive or corrective.
A tick above 1,603 highs will increase confidence in an impulsive advance. Till then there is little to see or do here.
Best of luck all those tracking this one in live.
