This 6-month daily chart shows the close above the resistance level of 1040. The near-term trend is up but the major and intermediate trends are both down
Russell 2000 6-Month Daily Chart
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The following 3-year weekly chart for the Russell 2000 shows the same breakout above 1040. But, the important point on the chart is the close above major resistance of 1050
Russell 2000 3-Year Weekly Chart
Reference my post for the Russell 2000 published on January 12, 2016 identifying the fact that the index was in bear market territory.
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“Technical Analysis is about probabilities.”
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