Markets – Macro – Technicals

$RUT

Tech has been absolutely relentless in 2017 so far. Yet there has been notable weakness in retail, energy and other sectors. Specifically the $RUT has not gone anywhere in 4 months and has shown relative weakness in recent weeks.

Looking at the index on a larger scale time frame we can note a potential broadening topping formation. These type of patterns can extend for quite some time, but the points of interjection are very precise:

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