Groundhog Day, Again, on the S&P Chart/ Russell Rules

By | June 3, 2015

I’ve been noting the narrow opening and closing range days on the S&P 500 index chart this week, and today was no exception. The high wicks that have accompanied them reflect an inability of the bulls to hold higher levels, and if this continues the bears will will take the advantage.
Interestingly, the Russell 2000 Index managed to close near its high of the day. This broke the rim line of a cup and handle-like formation on its daily chart. A successful break from this pattern projects to new all-time highs. Hopefully, the small caps are preparing to take over a market leadership role.

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2 thoughts on “Groundhog Day, Again, on the S&P Chart/ Russell Rules

  1. Pingback: S&P - Technical Follow-Up - Rightview Trading

  2. Pingback: Major Market Indices on Multiple Timeframes - Rightview Trading

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