Russell 2000 Index

The chart of Russell 2000 Index indicates three major support levels at ~$1,800, ~$1,720, and ~$1,637. It highlights to the potential of Russel 2000 Index going lower to below $1,800 given the current low jobless claims, good retail sales data, consumers resiliency, and FED’s stance over interest rate hikes. This index represents the well-known small cap stocks, which also highlights the possibility of many small cap stocks continuing on the downward slope. 

Patience is required if you are sitting on cash and bullish on small caps over long term. There will be better entry in the next 3 months.

Stay tuned for more updates.

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