On the P&F chart, the Russell 2000 ETF affirmed support around 77 with a sharp reversal the last two weeks. This reversal was strong enough to forge a Quadruple Top Breakout as the current X-Column broke above the equal highs of the prior three X-Columns.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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