Looking for CluesThe Nasdaq is breaking new high and the Russell and is not even close to new highs. We posted this weekly chart a week ago...is this a clue?
Russell
Russell is not playing wit othersWe are watching the Russell in this area. It had a nice fake on the break but we think the Russell has not caught up yet. If she does then 1200 could be on the radar screens. If she breaks below the 1138 area then the indexes are in trouble. Keep on you watch list.
Upcoming IWM Convergence On The 1 Hour ChartMajor resistance.
Upcoming significant Convergence
• Retracement at Fibonacci .618
• 200sma
• Trendline
• Ascending bearish wedge
• Stochs rolling over
Russell love fresh SQUEEZED...bulls? The Russell still has some ways to go until hitting her breakdown levels. It's lagging the $ES an $NQ. We will watch the 1152.00 area to see if price can hold. If we see price trade below this area then a squeeze could be in play. Be patient and wait for a trigger.
