Russell 200 (RUT) has had a big safeguard on the current Bull Cycle following the Housing Crisis bottom in 2009. The symmetrical Zone that was formed on the previous All Time High (ATH) has always held once it transitioned into Support upon periods of corrections (with the natural exception of COVID) and provided the framework for the rebound initiation of the next rally.
This time the previous ATH Zone has been continuously tested since May 2022 and so far has closed all candles above it. October has already entered this Support Zone with the 1M MA100 (green trend-line) right below it and the longer it holds, the sooner it will also enter the Zone. When the 1M MA100 broke during the COVID collapse, the flash crash extended almost as low as the 1M MA200 (orange trend-line).
Naturally the market conditions now are severely different than then, but the Support Zone must hold at all costs. If it breaks, the distress signal that will send may echo across high cap markets, especially the technology sector.
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This time the previous ATH Zone has been continuously tested since May 2022 and so far has closed all candles above it. October has already entered this Support Zone with the 1M MA100 (green trend-line) right below it and the longer it holds, the sooner it will also enter the Zone. When the 1M MA100 broke during the COVID collapse, the flash crash extended almost as low as the 1M MA200 (orange trend-line).
Naturally the market conditions now are severely different than then, but the Support Zone must hold at all costs. If it breaks, the distress signal that will send may echo across high cap markets, especially the technology sector.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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I trade Crypto, Forex, Indices, Commodities on PrimeXBT— all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
💰Message me @ t.me/tradingshot for Account Management|+20% monthly profit| Min. capital $30k|Low Risk
💰Message me @ t.me/tradingshot for Account Management|+20% monthly profit| Min. capital $30k|Low Risk
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
I trade Crypto, Forex, Indices, Commodities on PrimeXBT— all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
💰Message me @ t.me/tradingshot for Account Management|+20% monthly profit| Min. capital $30k|Low Risk
💰Message me @ t.me/tradingshot for Account Management|+20% monthly profit| Min. capital $30k|Low Risk
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.