Russell 2000 where will it head for?

US equity indices are seeing major divergences in the last week. The Dow is alone at the new highs. The Nasdaq is moving lower slowly, the S&P is flat, the Transports is bouncing back from a 5 wave decline, and the Russell 2000 is now in minor wave iii down from the multiple highs in the channel of the 6 month highs and lows. We can say prices are attempting to move to the lower end of the range again at 1374.

Adam Smith Associates offers trade & commodity finance related services & solutions to its domestic and international clients. Views expressed in this article are purely of the author – Mr Rohit Srivastava – a leading technical analyst. Visit www.adamsmith.tv for services offered by Adam Smith Associates Pvt Ltd

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