Browse Symbol Stacks: $RUT: content.screencast.com/use.../RUT10614.jpg
Can't help but notice the similarities. Notice at the beginning of August 2011, $RUT after approaching key support made one final lurch higher to backtest the July low. It now acted as resistance. $RUT fell away from that level, broke key support, and then we got our 2011 plunge.
In the same token, at the beginning of Oct 2014, we approached the key support level of 1080 on $RUT. We then got a lurch higher to backtest the August low of this year. It is now falling away. Under 1080 seems like an obvious plunge possibility if we see a quick move under 1080 in the next couple days.
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