Courtesy of Chris Kimble.
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Recently the Russell 2000 hit its Fibonacci 261% extension level based upon the weekly 2010 lows and 2011 highs. The index hit the 261% level and has backed off some since.
Russell 2000 starts off the week testing a rising support line and its 200EMA at the same time.
At this time support is support until broken and this looks to be an important test for this index, as it remains in an uptrend and has been a little softer than the S&P 500 of late!
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