| 2017-11-17 15:18:16|
IWM, RUT 15:18 11/17 11/17/17
On The Fly: Weekly technical notes for Russell 2000
The Russell 2000 (RUT) has exhibited more volatility than the S&P 500 (SPX), with much wider price swings. In the context of a weekly view, price hit the low of the weekly bearish price channel at the 1455 area and the top of the channel at the 1490 area. Next week, a further breakout above the top of the channel area would be bullish. The top of the channel will be at the 1485 area and the low at the 1450 area. A strong move above 1500 might revive the bullish flag pattern which appeared void this past week. For the week the strongest sectors were Consumer Discretionary, Consumer Staples, and Utilities. The weakest sectors were Energy, Basic Materials, Technology, and the Industrials.