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Russell 2000 Building Right Shoulder

Jun. 29, 2016 4:06 PM ETIWM, SPY
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Chart #1: Russell 2000 index volume chart


chart courtesy of www.marketvolume.com

Six times the Russell 2000 index bounced up from the $1,080 level: in February 2014, May 2014, October 2014, October 2015, February 2015 and most recent bounce now in June 2015.

Four time the Russell 2000 index bounced down from the $1,200 level: in may 2014, June 2014, November 2015 and January 2016.

With Highest point around $1,300, it may look like the Russell 2000 index is in the process of the building the right shoulder...

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