Browse Symbol Stacks: $RUT: Russell 2000 - Weekly 1.22.2016.png

Russell 2000 - Weekly 1.22.2016.png

Wedge is asserting itself. New all-time highs coming.

Russell 2000 - Weekly 1.22.2016.png

Comments

yazzeryazzer
that is a big stretch to call that a wedge at this point. I see a huge H&S....but it needs time 1/22/16
007Dad-King Calvin Turns 1007Dad-King Calvin Turns 1
Understatement. 1/22/16
DinkDink
@Yazzer: I agree with you, it could be a huge H&S top. My problem is that H&S tops appear much less frequently than continuation patterns like wedges/flags/rectangles/etc. This happens because topping patterns only appear at tops and continuation patterns appear all through the major uptrend. That is why every H&S pattern since the 2009 market low has failed and turned into a larger continuation pattern. Patterns morph and the initial pattern spotted by most people usually ends up being wrong. Therefore, we should be looking for price to form continuation patterns in the bull market until the market proves itself to be in a bear market. 1/25/16
TombTomb
Looks like a 5 wave expanding triangle to me. Which would mean uptrend ahead. I hope your wrong T 1/26/16
DinkDink
Well this didn't work out at all. HA HA HA HA HA. 3/24/16