US2000’s Weekly RSI Drops Below 50

Russell Shor, CFTe, MFTA FXCM

The below is a weekly chart of the US2000. The small caps index has charted a higher trough followed by a higher peak. This is the classical definition of an uptrend. If price drops below the last trough (green horizontal) it will effectively end the uptrend. This would be an interesting development as the small caps index often leads the larger cap SPX500. We do note that its RSI(9) has already dropped below 50, which is on the bearish side of the indicator (blue rectangle). As such we continue to monitor.

Past performance is not an indicator of future results.

CHART SOURCE: FXCM MARKETSCOPE 2.0

Author

Russell Shor, CFTe, MFTA

FXCM

Russell Shor (MSTA, CFTe, MFTA) has an Honours Degree in Economics from the University of South Africa and holds the coveted Certified Financial Technician and Master of Financial Technical Analysis qualifications from the Interna

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