RUT Russell 2000 Small Caps Daily Chart; New All-Time Record High; Upward-Sloping Channel; Bull Flag

The small caps join the September bull party. This month is typically the weakest of the year but instead prints wall to wall stock market joy. The RUT prints a new all-time high at 1460.95 and new all-time closing high at 1456.86. TRAN prints a new all-time record as well. These two indexes now join the SPX, INDU, COMPQ, NDX and NYA that have all printed new all-time record highs this month. Kneel and Praise the Glory and Majesty of the central bankers! Honor and Worship these modern day Money God's in charge of the Temple!

The RUT is at the top rail of the upward-sloping channel so it needs to make a bounce or die decision. Trades are rushing into small cap stocks buying with total disregard for price. The RUT leaps from 1350 to 1461, a 111-point gain, +8.2%, in only 26 days. The Russell is gaining +1% every three days over the last month.

Note the two-leg bull flag pattern shown in neon blue. First leg is from 1350 to 1415 which is 65 handles. Then price consolidates sideways to sideways lower in textbook fashion. Then leg two begins from 1395 so the target is 1460 (1395+65). Bingo. The bull flag pattern is satisfied. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.