Price has fallen and is trading around major support at 50.00 and the Momentum indicator is still above zero on the following Weekly ratio chart of RUT:RVX. A break and hold below 50.00 and the zero level could signal that a big decline is in store for the RUT.
A look at a 60 min (market hours only) chart of the Russell 2000 e-mini Futures Index (TF) shows that price is currently trading in the vicinity of its lower channel, Monthly Volume Profile POC (pink horizontal line), and Monthly VWAP (yellow). A break and hold below 900.00 could signal much more weakness to come, depending on whether we see increasing volumes on the decline (note yesterday's and today's volume spikes).
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