Chart of the day

Where do we stand fundamentally?

Russell2000 is gaining ground for growth like DJIA blue chip as the FED is more and more certain to cut rates and this will propel the growth of it's constituents.

Russell2000 is extending higher after breaking above the strong resistance 2140. This is now a clear extension in the long-term third wave higher. Now only a break below 2100 will lead to a temporary invalidation of the immediate extension higher.

An invalidation level of a third wave extension higher is 2030. This extension higher could lead to 2480 target in the medium-term and most possibly a new historical high.

_{Look for a long trade entry with a stop loss below 2150 to target 2400 at least. You can trade it with options as well.}