Russell 2000: Absolutely Repulsive

The Russell 2000 futures rocketed higher this morning to a lifetime high, then I noticed they did a perfect about-face at a line I had drawn a while ago. I was naturally curious what this line was, because longer lines tend to be more meaningful than short ones, and I wanted to see if this went back just a few days.

(Click on image to enlarge)

Well, no, it was a big one: this line goes all the way back to the mid-March bottom, and its first half served as support and its second half served as resistance. And it did so with remarkable accuracy this morning.

(Click on image to enlarge)

 

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.
Alexis Renault 1 month ago Member's comment

I don't understand what I'm looking at.