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
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
Reference my post for the Russell 2000 published on January 12, 2016 identifying the fact that the index was in bear market territory.
“Technical Analysis is about probabilities.”
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