Russell 2000 … Channel ?

Late Session

Possible Trading Channel Forming

The past six months shows the Russell 2000 (IWM) in choppy and impulsive action; both up and down.

The last eight trading days have seen that choppy action begin to exhibit a hint of order.

It does not look like much … until you put in a trend-line .. or two:

Adding to the intrigue; channel width is at Fibonacci 8-Days.

If today’s session closes lower (no guarantees) and posts a new daily low (below 220.26), it adds weight the Russell may be in the very early stages of trending lower.

Stay Tuned

Charts by StockCharts

Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.

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