LONG TERM, small caps
End-of-month Friday RUT closed on a long-legged red doji after four post-election bull months, and printed an “Outside Month”.
Bears think that means at least a month or two of down testing. (At the very least it may continue back-testing the breakout zone near 1300, or the yearly moving average - 12ma - just below that).
Bulls believe the Outside Month to be a continuation pattern, and all they can see are the eventual purple targetsMonthly
chart, as of Friday’s close
This time it all depends on politics, so here’s a Washington D.C. cheat sheet from Deutsche Bank (via zh)http://www.zerohedge.com/sites/default/ ... utsche.jpg