The RUT is still in a short term downward channel and under the intermediate downward trendline, but if it can stay above the 200MA and/or break out of the downward channel I would have more of a neutral bias. I'll be watching the next few days to see what happens.
Next week is expiry week which can tend to be bullish so we'll just have to wait and see how this plays out. The candle today was bullish and if it follows through to the upside tomorrow, look for some resistance near the 20MA (732).
RUT Daily Chart:
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