RTY Channels Held
Despite the initial selloff, my channels in the RTY held. I'm holding off on longs until XLF makes a decision. It's currently struggling to sustain a rally. Flag support is at 1354 below. My sell zone starts at 1453. There is a minor support at 1400s. If we close below 1354, then the RTY will be in big trouble. For now, I am not sure if a new channel below is forming or not. I may have to create a downward channel.
Note
In hindsight, I should've seen the XLF rallying when earnings season was coming up. I also should've seen that bullish divergence on the RSI earlier. That's where I should've gone long.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.