RUSSELL 2000 will finish the year in style on the All Time High.Russell 2000 (RUT) has been giving us a lot of solid signals all year as it is following a highly symmetrical Cup pattern, which delivered last time (May 09, see chart below) an excellent bottom buy trade that effectively hit our 2293 Target:
As the 1M RSI has succeeded at maintaining a sustainable trend above its MA for almost 1 year (which is highly bullish), we make the Cup pattern wider to fit the whole sequence even the start of the 2022 Bear Cycle.
The 1W MA50 (blue trend-line) continues to be the main Support, with the 1D MA50 (red trend-line) the short-term one. We expect a quick test and then rebound towards the end of the year to 2465 (Resistance 2), which is effectively the market's All Time High.
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