The State Of The TF: What’s Next For The Russell 2000?
While the state of the union may have been addressed in January, as we approach the end of the 1st quarter if trading in 2015, I want to take some time to craft a four part series reflecting on each of the major stock market indices. This isn’t necessarily to lay out a forecast for exactly what’s going to happen next. And since the major opportunity to go long presented itself weeks ago, the question now is what to do and how to manage positions as the market taps the highs on all four stock market indices.
After correcting in October and rebounding into year end, investors have been navigating choppy waters for the past several months. The first potential opportunity that appeared to lift the market in 2015 quickly turned down before resetting itself once again for the run higher we’ve seen over the past few weeks.
As seen below, the overall market picture has lifted to all time highs but low volume persists. Can we go higher on low volume? It’s certainly possible, as markets have done this repeatedly. But we are definitely at an important crossroads. Let’s examine some key charts and the paint a picture of the current state of the e-mini Russell 2000 futures (TF) and what roadblocks are ahead and what support lies below.
RUSSELL 2000 E-mini Technical Analysis Screen Grid
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