RUT Russell 2000 Small Caps Weekly Chart Multi Year Tops

RUT Russell 2000 small caps longer term weekly chart shows the two multi-year tops. Small caps peaked July thru September 2007 ahead of the other indexes. RUT is now at the previous 2007 highs but indicators are all in negative divergence. The fractal from 2007 is repeating with the rising wedge as well.

Note the inverted H&S at the March 2009 bottom, that targeted the 770-ish area, which price achieved and then some, verifying the pattern, and 770-ish also serves as sturdy horizontal support in 2006-2007. Price exploration back to this level would be in order moving forward. Watch the RSI and stochastics values to see if they fall below the 50% level which will verify the bearishness. Price has dropped under the 20 MA which is bearish. Price should test the 800 psychological level and then move towards the 750-770 area as the weeks and months move forward. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.