RUT: Pattern Complete and Still Rising

The Reverse Head and Shoulders Pattern was completed today as it hit it's upside target of 408 with a little help from the Fed Announcement.

The current upside target is the downtrending 50MA and the horizontal resistance area around 430. This is the spot the RUT will likely pause for a pull back.

The price continues to move up, so until we see some reversal signs the bias is still up.

RUT Daily Chart:



RUT Hourly Chart: