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
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