CHART BLOG

Small caps at Fair Value (YP)


RUT

The Russell 2000 index(RUT/IWM) has pulled back to it's Yearly pivot point(YP) zone, which is where fair value is for this year. The high this year was at the Yearly R1 pivots. When price gets overbought or oversold, it likes to come back to the (P). Yr1 to YP = textbook algorithmic move. A close <1425(YWP), opens the door for the Yearly S1 pivot points in 2019.


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