Technically this relief bounce makes sense, and at this point it could easily head up to 745 tomorrow to retest the 200MA which also intersects with the backside of the uptrend line it broke last week. If it can't hold there then it could easily fall back down hard. Above 745, the 750 area should resist, but remember the RUT can get uber-bullish for no good reason and blast right through it so be prepared for anything.
RUT Daily Chart:
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