Russell 2000 pulled back hard from the highs — small caps are feeling the squeeze while mega caps hold up. Chart tagged the bottom of the parallel channel Friday and bounced as expected. That zone is support for now, likely good for a move to 2900 resistance. If the parallel breaks, 2735 is next support.
No position here. Levels look clean but risk/reward doesn't work. Long from the parallel base runs into 2900 resistance too fast. Same issue at 2735 — support is there but the parallel bottom flips to resistance right above it. Tight range, no edge.
$RUT
No position here. Levels look clean but risk/reward doesn't work. Long from the parallel base runs into 2900 resistance too fast. Same issue at 2735 — support is there but the parallel bottom flips to resistance right above it. Tight range, no edge.
$RUT
