Wednesday, June 4, 2014

Russell 2000 Trapped

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The Russell 2000 remains trapped in the right shoulder of a bearish head & shoulders chart pattern.  During the past week this index has struggled to makes gains as the S&P 500 continues to set record highs.

The Russell 2000 volatility index is rising and indicates the Russell 2000 may again attempt to break the neckline of its head & shoulders chart pattern.

Russell 2000 daily chart: http://scharts.co/1mokeyj
Russell 2000 weekly chart: http://scharts.co/1nhO631
Russell 2000 volatility index: http://scharts.co/1m7nMoC