RUT: Heading South for the Summer?

The RUT tried to weasel itself up and above 750 while no one was looking, but got slapped back to reality the following day and has continued to get punished with strong selling.

If the RUT follows suit like the DOW and SPX then a retest of the downward trendline would be in order meaning that some lower lows could be put in within the next couple of weeks. This would be contingent on RUT breaking below 715 and the 100MA which is sitting now at 708. The momentum is down so it wouldn't take much.

Other then that, I thought the rejection at 750 was very convincing and could see that resisting in July as well. An estimated range for July might be 700 to 750 based on what the charts are currently showing.

RUT Daily Chart: