Update on RUT cycle

31 ago 2017

My last post on Russell 2000 cycle found several analogs which suggested another visit to the lower channel line. That occurred, and for good measure, a secondary sharper break lower developed beneath the 200d MA which looked like it had completely broken the Russell. (Even the cycle suggested low was postponed more than 2 weeks). Looking at previous instances, this now looks to be tracking out an analog from around this time of year in 2014. The overlay suggests a re-visit to the top of this current range (more chop) and then another sharp break lower in October which will bring it back to test a major support level going back some time.