Monday, June 27, 2011

Russell 2000 (TF) Triangle forming 6/27

The russell 2000 chart has been forming a triangle (highlighted in purple) over the last few trading days. Usually this would mean we are getting ready to make a break one way or another and at this point I'm not exactly sure which way as all equities seemed to have found strong support where it was expected, but at the same time a strong formation like this is sometimes whats needed to get a trend to continue. Also highlighted is the MACD's triangle formation, which only confuses the picture as there are no real clues in it for which way we might be going.

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