Russell 2000 Resistance

The small-caps have been banging around their range ever since they entered it on Jan. 18. We may be getting close to the top of that range.

I would like to point out the blue trendline in particular; any surviving bears out there do not want to see price levels cross above that line (please take note of the bullish inverted head-and-shoulders pattern which is within the range, although these have been flame-outs so far this year).

A nearly identical view can be had with the cash index itself. Here, I’ve zoomed in closer to show how proximal the key resistance line is to the price itself.