$RUT Daily Chart
Just one chart this week to look at. I'll be gone most of next week. Updated intermediate and short term reversal levels for the RUT. It is back on a buy across the board after this week's reversal. Of note, the Russell broke out to the upside from this year's downward channel consolidation. The green circle noted is the convergence of this year's high at 1213 and the blue trendline shown is the broadened top of the 15 year pattern connecting the 2000 and 2007 tops. The Russell formation which appeared to be forming a top at this line, now appears to be a year long bull flag, consolidating for a push higher. A breakout to new highs will likely see an explosive move higher in the Russell in the first half of 2015.
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