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The Russell 2000 is up against a 14-year resistance line and might have put in a double top. This chart was sent to Premium Members over a week ago, as members were establishing short positions very near all-time highs.
After creating what could be a double top, the following week the Russell created a “weekly engulfing bearish pattern” wiping out a months worth of gains in the small cap index in a week!
Joe Friday…If the Russell breaks steep rising support line (2), small caps become vulnerable to a large decline.
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