The intraday comeback and it's ability to hold up under pressure really impressed me today. The last 2 hours of the day consolidated around the 716 area and every red candle was met with more buying to keep the index up above the 715 pivot area. The day closed creating a spinning top with a LONG tail and the RUT is comfortably above the 30MA and 100MA on the daily chart.
Not sure where all this bullishness is coming from, but as the RUT consolidates sideways it favors the bulls for another move up. Some good news on Monday could see some retests of the 726 intraday highs from a couple weeks ago.
RUT was the only index to close in positive territory today.
RUT Daily Chart:
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