Russell Ready to Bust Bull Flag 7-17-18

Hello friends, it appears the Russell 200 is ready to bust above the current chart formation. Russell breaks of major trend lines have been major indicators of micro trend changes reliably in the past. A failure or break below this flag would be extremely concerning.

Kommentar:

Russell is coming back to test flag boundary. This is not what I want to see in terms of strength. It is a bit oversold methinks and should bounce, but if the bounce is not convincing I would be looking to short with an eye for further declines ahead.