Chart of the Day: US2000
The US2000 has tracked a series of lower highs since May this year. Price is for a third time pushing into trend resistance as the top of the multi-month range. With clear skies for US stocks, will we see the index break above the resistance level?
Charts indicate the US2000, an index comprised of 2,000 smallest-American companies, shows the index closed significantly higher at 1589.32, mirroring record highs recorded by both US500 and NAS100. If bullish momentum takes the US2000 above the multi-month resistance, expect consolidation around the higher high. Moreover, a breakthrough is likely to validate record highs on narrower indices.
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